Allianz share: billions dispute

by David Heintz, Euro on Sunday

In mid-February, the DAX group had already made the first reserve of 3.7 billion euros. The second provision comes earlier and is lower than expected, commented Philip Kett of US Bank Jefferies.

Operating profit fell year-on-year from 3.3 to 3.2 billionbut was higher than analyst estimates.

The new provision alone burdened the quarterly surplus with 1.6 billion euros. Despite the additional burden, Allianz is still in the black. The net profit is around 600 million euros. CEO Oliver Bäte confirmed that he would stick to the previous dividend policy.

Relief: The recent setback could prove to be a good entry point. Reliable Dividend Stock.

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