Allianz Sets out Midterm Targets
December 03 2021 - 2:38AM
Dow Jones News
By Joshua Kirby
Allianz SE on Friday set out higher financial targets for the
next three years, as the German insurer looks to focus on its most
profitable business lines.
Marking its capital-markets day, Allianz said it is aiming to
book 5%-7% compounded average annual growth in earnings per share
between 2022 and 2024. This will be driven by higher revenue,
better profitability and efficient capital management, the company
said.
The company is targeting a return on equity of at least 13% by
2024, and a Solvency II ratio of at least 180%.
In order to attain these goals, Allianz will focus on preferred
businesses in life & health such as protection & health,
unit-linked and capital-light products, it said. In the property
& casualty division, Allianz is targeting revenue growth of
3%-4% annually, and aims to reduce expenses to a ratio of around
26% by 2024.
Separately Friday, Allianz set out its amended dividend policy,
targeting a yearly increase of at least 5% in its payout. This
policy is dependent on a Solvency II ratio of at least 150%,
Allianz said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
December 03, 2021 02:23 ET (07:23 GMT)
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