by Amruth Sundarkumar | Aug 8, 2022 | Corporates, Global
German insurer Allianz reported a 23.1% YoY fall in its consolidated net income to €1.8bn ($1.8bn) for Q2. The lower profit was attributed to a 6x jump in non-operating expenses to €1.2bn ($1.2bn), which included restructuring & integration expenses, impairments,...
by Amruth Sundarkumar | May 18, 2022 | Financial Institution Bonds
Allianz has agreed to pay over $6bn regarding a criminal securities fraud on the collapse of its US Structured Alpha Funds. Allianz would have to pay a $2.33bn criminal fine, $3.24bn in restitution, a $675mn civil fine settlement with the SEC and forfeit $463mn. The...
by Amruth Sundarkumar | May 12, 2022 | Financial Institution Bonds
Allianz has set aside €1.9bn in provisions during Q1 2022 regarding its Structured Alpha Funds. The insurer said that the amount set aside was a fair estimate of its remaining financial exposure with regard to ‘compensation payments to investors’ and...
by Amruth Sundarkumar | Feb 18, 2022 | Financial Institutions
Allianz reported a net loss of €292mn ($332mn) in Q4 2021 while analysts expected a profit. Profit for the full year was at €6.6bn ($7.5bn), the lowest since 2013. Revenues during Q4 rose 7.9% to €38.4bn ($43.7bn). The insurer said it would set aside a pre-tax...
by Megha Malhotra | Feb 8, 2022 | Corporates
German insurer Allianz saw its dollar-denominated 3.875% perpetuals fall about 5 points late on Monday after the 30-day call announcement window closed, indicating that the issuer will not be redeeming the bonds on the first call date of March 7. The fixed-for-life...
