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Allianz (ETR:ALV), Germany's largest Insurance company by market cap, ranks 3 in the Top 20 by dividend yielding stocks in the DAX Index of 30 stocks.
Past 12 months DPS: EUR10.80;
Last price: EUR176.24;
Dividend yield: 6.1%;
The dividend yield of 6.1% is 7.9 times the triple-A bond yield of 0.8%.;
ALLIANZ Stock Dashboard (traded in Euro, EUR)
| Exchange | GERMAN | 52-Week Range | 168.20 - 220.74 |
| Currency | 1.000 EUR = 1.027 USD | Sector | Insurance |
| Aug 02, 2022 | EUR176.24 | Independent Sector Ranking | Ranked 24 in Forbes2000 |
| P/E (FY2021) | 11 | Market Cap | EUR78 billion [$80 billion] |
| EPS (FY2021) | EUR16 | Shares Outstanding | 440,249,646 |
| Dividend Yield (TTM) | 6.1% | % Held by Top Shareholder | 7 |
| DPS (past 12 months) | EUR10 | ALV in Indices | DAX, Financials |
| EPS Growth (FY2021 vs FY2020) | -3.2% | Independent Sector comparison by Dividend Yield % (TTM) | Stock: 6.13; Sector: .72. 88.3% Discount to sector av. Attractive dividend yield compared to sector av |
| Ave Daily Volume | 972,469 shares | Independent Sector comparison by P/E | Stock: 11.04; Sector: 9.04. 18.1% Premium to sector av |
Primary Exchange and Other Listings: Trading Currency and Volume (Excl ADR)
| Exchange | Ticker | Currency | Last | ADVT | Vol % of Total | Today's VI |
| Xetra | ALV | EUR | 176.24 | 955,807 | 99.1 | 0.7 |
| Frankfurt | ALV | EUR | 176.64 | 4,615 | 0.5 | 0.7 |
| Borsa Italiana | ALV | EUR | 176.7 | 2,489 | 0.2 | 0.6 |
| Hamburg | ALV | EUR | 176.64 | 1,300 | 0.1 | 0.4 |
| Total | 100.00 |
ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)
Stock vs Index (Annual Percentage Change)
| December 31 | Share price of Allianz | of DAX Index |
| 2021 | 8.2 | 15.8 |
| 2020 | -2.3 | 3.5 |
| 2019 | 30.3 | 25.5 |
| 2018 | -4.9 | -18.3 |
| 2017 | 12.3 | 2.4 |
Allianz has outperformed the DAX Index in 2 of the past 5 years
years: 2019,2017;2 of the past 5 years
INDEX
SECTION 1 THE PAST QUARTER: FINANCIALS, ESG
SECTION 2 THE PAST QUARTER: PRESS RELEASES AND CORPORATE WIRE
SECTION 3 TODAY'S BEARISH SIGNALS
SECTION 4 ONGOING BEARISH PARAMETERS
SECTION 5 TODAY'S BULLISH SIGNALS
SECTION 6 ONGOING BULLISH PARAMETERS
SECTION 7 CORPORATE PROFILE AND INDEPENDENT RATINGS
SECTION 8 FINANCIALS FY 2021
SECTION 9 DIVIDEND
SECTION 10 TOP MANAGEMENT
SECTION 11 BOARD OF DIRECTORS
SECTION 12 FINANCIALS AS REPORTED FY 2021, PAST 7 YEARS
SECTION 13 TOP SHAREHOLDERS
SECTION 14 PEER COMPARISON & RANKING OF ALV
SECTION 15 CURRENCY SYNOPSIS: EURO (EUR)
SECTION 16 ALLIANZ PREFERRED SHARES
SECTION 17 STOCK IDENTIFIERS
GLOSSARY
DATA & ARCHIVE DOWNLOAD CENTER
ALV: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:
+ PRICE VOLUME - 5-YEAR HISTORY
+ FINANCIALS - 10-YEAR HISTORY [INCLUDING FY 2021]:
+ PEER COMPARISON - STOCK IN INSURANCE SECTOR AND STOCK IN INDICES
ALV: LINKS IN HTML TO FURTHER INFORMATION:
+ NEWS ARCHIVES - ALV PAST 4 YEARS IN HTML:
+ USD vs EUR EXCHANGE RATE CHARTS IN HTML
SECTION 1 THE PAST QUARTER: FINANCIALS, ESG
1.1 ALV Financials Summary: EPS down 3.2% to EUR15.96 in FY2021 [ y.e. 31 Dec 2021]
+ Net profit was down 2.9% from $6.9 billion in FY2020 to $6.7 billion in FY2021.
+ Earnings Per Share (EPS) was down 3.2% from EUR16.48 in FY2020 to EUR15.96 in FY2021.
| Year ended Dec | FY2021 | FY2020 | FY2019 |
| Sales ($ B) | 124.2 | 121.4 | 118.3 |
| Pretax ($ B) | 9.7 | 9.8 | 11.3 |
| Net ($ B) | 6.7 | 6.9 | 8 |
| EPS (EUR) | 15.96 | 16.48 | 18.9 |
1.2 March 09: Allianz finances development of landmark ESG building in London
Allianz Real Estate, acting on behalf of several Allianz Group companies, has provided close to GBP 200 million in financing to a consortium of four sponsors for the development of a 500,000 square foot mixed-use development in London that is expected to become a focal point for the
Allianz Real Estate, acting on behalf of several Allianz Group companies, has provided close to GBP 200 million in financing to a consortium of four sponsors to support the development of 105 Victoria Street. The 500,000 square foot development is designed to surpass sustainability benchmarks while providing a focal point for the local community.
105 Victoria Street will become a mixed-use development with a range of amenities. In addition to floors of retail and office, there will be affordable working space for young businesses and a number of leisure features. These include a rooftop urban farm designed to provide learning opportunities for local schools and fresh produce for local restaurants and cafes; a multi-purpose community space to be used for local sports teams, lectures, discussion groups and town hall events; and a ground floor village square with market stalls to promote local producers, designers and crafters.
Alongside the important social amenities will be a range of ambitious sustainability features that will enable the building to exceed current benchmarks. These include 100% electrical power use and embodied carbon solutions, that will exceed both Royal Institute of British Architects (RIBA) targets and the Greater London Authority's aspirational benchmark.
Welput, the specialist central London office fund managed by BentallGreenOak (BGO), is the sponsor of 105 Victoria Street along with PSP Investments and existing investors in Welput, with BGO also acting as Development Manager.
March 07: Allianz Real Estate sees its global logistics portfolio increase 32% to EUR 11.6bn in 2021
Munich | Paris | London | New York | Singapore | 7 March 2022
Allianz Real Estate, one of the world's largest real estate investment managers, has seen its global logistics portfolio grow to EUR 11.6 billion in assets under management as at the end of 2021, up 32% year-on-year. The firm's logistics exposure comprises EUR 8.6 billion in equity investment, an increase of 39% year-on-year, and EUR 3 billion in financing, up 15%. Regionally,
the firm's portfolio split is EUR 5.8 billion in Europe, EUR 3.3 billion in the U.S. and EUR 2.5 in Asia Pacific.
Kari Pitkin, Head of Business Development Europe at Allianz Real Estate said: "We established our global logistics portfolio early, and now have a leading market position in the sector.
Our dedicated logistics team has continued to build on this in 2021, leveraging their strong relationships with prime partners in Europe and beyond to capitalize on the significant shift in distribution and the evolution of the retail industry.
"Our approach to the sector has fully aligned with our global ESG strategy and the wider theme of sustainability. We have continued to select assets and partners with strong ESG profiles, building a logistics portfolio which meets the very highest standards."
ridging the sustainability gap
In April 2021, Allianz Real Estate announced one of the most significant ESG programs in the real estate industry, with an aim to reduce the carbon footprint of its global portfolio by 25% by 2025 and net zero by 2050.
The firm therefore intensified its decarbonization efforts over 2021, engaging with tenants to obtain energy consumption data and working closely with developers to ensure all assets contribute to the transition towards a low-carbon economy. Initiatives include the incorporation of energy efficient improvements such as solar panels and the provision of e-truck charging infrastructure.
In March, for instance, the firm acquired a EUR 72 million newly built, last-mile logistics facility single-tenanted by Amazon in the south of Vienna.
March 10 2021: AllianzGI accelerates its sustainable investment drive
AllianzGI, one of the world's largest active investment managers, has announced that 74 of its equity, fixed income and multi-asset funds will join its current sustainable investment offering. This is part of its strategic ambition to be a sustainable investment shaper, continuously innovate and anticipate growing client demand. Portfolios will be constructed using ESG assessments reflecting clients' values through AllianzGI Sustainable Minimum Exclusions* and will adopt a new strengthened engagement approach or SRI Best-in-class considerations.
Source: Company Website
July 18 2019: Arabesque S-Ray partners with Allianz X, Commerz Real, DWS, and Land Hessen
Arabesque S-Ray, a leading global data provider of environmental, social, and governance (ESG) metrics, today announced strategic partnerships with four new co-investors: Allianz X, Commerz Real AG, DWS Group, and Land Hessen. Allianz X led Arabesque's Series A funding round, with the four shareholders jointly investing $20 million.
Using ESG big data and machine learning models, Arabesque S-Ray provides technology that is used by many of the world's largest institutional investors, corporations, and consultancies to assess the sustainability performance of over 7,000 companies globally.
Source: Company Website
SECTION 2 THE PAST QUARTER: PRESS RELEASES AND CORPORATE WIRE
July 04: Allianz SE publishes the Information Circular for the voluntary tender offer for European Reliance shares outstanding; initiation of the acceptance period
Allianz had announced in February this year that it had entered into certain Share Purchase Agreements to acquire 72 percent of European Reliance General Insurance Company SA ("European Reliance"). Allianz announces today that it has formally published the Information Circular and is proceeding with the Voluntary Tender Offer (VTO) for the remaining European Reliance shares.
Source: Company Website
July 01: Allianz enters multi-year partnership with cyber MGA Coalition
Allianz is providing Coalition with long-term committed capacity for its US cyber insurance programs and will lead Coalition's UK cyber program when it launches later this year.
Source: Company Website
June 30: Allianz enters multi-year partnership with cyber MGA Coalition
Allianz today announced a new multi-year partnership with Coalition, a leading cyber insurance and security provider, headquartered in San Francisco. Allianz provides Coalition with long-term committed capacity for its US cyber insurance programs and will lead Coalition's UK cyber program when it launches later this year.
"Cyber is one of the top risks for businesses globally and while the risk landscape is not getting any easier, we are expanding our offering for customers," said Scott Sayce, Global Head of Cyber at Allianz. "We constantly urge our customers to strengthen their cyber defenses and, with its innovative approach to cyber risk, Coalition has proven that data and technology can be very effective to prevent and resolve cyber claims."
The global economy loses up to USD 1.5 trn annually due to cyberattacks. To date, few companies are adequately equipped to identify and manage these risks effectively. SMEs and mid-market companies especially face challenges procuring the tools, skills and resources needed to protect themselves. With this partnership Allianz complements its products and distribution network with Coalition's 'Active Cyber Insurance' approach and supports precisely this SME and mid-market segment in the U.S. and UK.
Coalition combines cyber coverage with AI-powered security tools to help customers spot, prevent and respond to cyber risk. Proactive and real-time risk screenings deliver accurate insights on digital risks, while 24/7 access to incident response experts enable organizations to respond to threats at early stage. As a result, customers experience a substantially lower frequency of claims compared to the cyber market average.
"We're thrilled to have Allianz, one of the world's largest insurance companies, partner with Coalition to protect the unprotected," said Shawn Ram, Head of Insurance at Coalition.
June 13: AllianzGI seals strategic partnership agreement with Voya Financial
Allianz Global Investors ("AllianzGI") announced today that it had entered into a definitive agreement with Voya Financial, Inc. relating to the strategic partnership communicated in May.
As part of the partnership agreement, AllianzGI will transfer selected investment teams and assets comprising most of its US business to Voya Investment Management ("Voya IM"). As consideration for the transfer of assets, Allianz Group will receive a stake in Voya IM of 24% of the enlarged US manager.
The addition of AllianzGI's US-based income & growth, fundamental equities and private placement teams will complement Voya IM's existing capabilities and investment platforms. Following completion of the transfer, US vehicles and clients of the transferred investment teams will continue to be managed and advised by those teams.
An integral feature of the partnership is the establishment of a long-term, strategic-distribution partnership whereby AllianzGI will distribute Voya IM's investment strategies outside the US and Canada, providing its global client base with a broader range of complementary investment strategies.
Commenting on the agreement, Tobias C. Pross, CEO of AllianzGI, said: "Today's announcement is a significant milestone in the development of an important strategic partnership for AllianzGI, which will enable us to increase the range of US-managed investment strategies available to clients in the rest of the world. Voya IM complements our own strengths, footprint and culture, and we look forward to realising the potential of the partnership for clients of both firms."
Execution and ultimate completion of the investment team transfers from AllianzGI to Voya IM is on course to take place no later than 25 July 2022.
Source: Company Website
SECTION 3 TODAY'S BEARISH SIGNALS
3.1 Rank in the bottom 16% by Price Performance in the German market
| Description | Value | Rank |
| Rel Strength 6 mo | 17 | In Bottom 16% |
3.2 Downtrend
Beta < 1 combined with price fall. The Beta of the stock is 0.9.
Price/Moving Average Price of 0.91 and negative MACD:
- The Price/MAP 200 for Allianz is 0.91. Being less than 1 is a bearish indicator. It is lower than the Price/MAP 200 for the DAX Index of 0.92, a second bearish indicator. The stock is trading below both its MAPs and the 50-day MAP of EUR181.81 is lower than the 200-day MAP of EUR193.38, a third bearish indicator. The 200-day MAP has decreased to EUR193.38, a fourth bearish indicator.
- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 175.74 minus the 26-day EMA of 177.64 is negative, suggesting a bearish signal.
Past Quarter:
In the last three months the stock has hit a new 52-week low once. The Worst 3 weeks in the past quarter
In the past quarter the steepest fall of 6.5% took place in the week beginning Monday June 06.
| Mon-Fri | Change % | DAX Index Change % | RPC % | Vol Ind [1 is avg] |
| Jun 06-10 | -6.5 | -4.8 | -1.7 | 1.1 |
| May 02-06 | -4.7 | -3 | -1.7 | 1.8 |
| Jul 11-15 | -4 | -1.2 | -2.9 | 1.2 |
Slipping Relative Strength:
- The stock has a 6-month relative strength of 17 in the German market of 1,592 stocks, 17 units and 24 preference stocks indicating it is trailing 83% of the market.
- Also, the relative strength percentile is slipping at 17 for 6 months, 15 for 3 months and 11 for 1 month.
3.3 Overvaluation
Price/Earnings of 11 > sector avg of 9.0:
- The price-to-earnings ratio of 11 indicates overvaluation compared with sector average of 9.0.
- Earnings yield of 9.1% is less attractive compared with the German average earning yield of 9.6%.
- The earnings yield of 9.1% is 11.7 times the 10-year bond yield of 0.8%.
(All figures in %)
| Earnings Yield | 9.1 |
| German avg | 9.6 |
| Dividend Yield | 6.1 |
| Bond Yield | 0.8 |
3.4 Other Bearish Signals
- Return on Equity of 8.4% versus sector average of 10.8% and market average of 11.2%.
- Total Liabilities/EBITDA of 114.5 is more than 5, this compares unfavourably with the Joseph Piotroski benchmark of 5.
- As per the Du Pont analysis, Return on Equity of 8.4% is lower than sector average of 10.8%. This is computed as net profit margin of 5.8% times asset turnover [sales/assets] of 0.11 times leverage factor [total assets/shareholders' equity] of 13.5.
SECTION 4 ONGOING BEARISH PARAMETERS
4.1 Rank in the bottom 8% by Productivity in the German market
| Description | Value | Rank |
| Return on Assets [ROA] % | 0.6 | In Bottom 8% |
| Return on Capital Employed [ROCE] % | 0.8 | In Bottom 4% |
4.2 Present Value of EUR1000 Invested in the Past 3 Months; The Worst Period with PVEUR1000 < 910
| PVEUR1,000 | 3 mo ago |
| ALV.ETR | EUR909 |
| Insurance sector | EUR948 |
| DAX Index | EUR996 |
4.3 The Worst Periods [3 Mo, 3 Yrs] with Price Change % < -2.5
3-Year price change of -2.6% for Allianz underperformed the change of 9.8% in the DAX Index for a relative price change of -12.4%.
| Price Change % | Quarter | 3 Years |
| Allianz | -13.7 | -2.6 |
| Insurance sector | -5.2 | 20.9 |
| DAX Index | -3.7 | 9.8 |
4.4 MCap: 5-Year Decrease of EUR5 billion [$5 billion] (6%)
In the past 5 years Market Capitalization has decreased by EUR4.6 billion (6%) from EUR82.2 billion to EUR77.6 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 3 out of 5 years.
| Price | MCap (EUR B) | MCap ($ B) | |
| Last | EUR176.24 | 77.6 | 79.7 |
| 1 Year ago | EUR183.90 | 85.3 | 101.3 |
| 2 Years ago | EUR160.06 | 77.6 | 92.3 |
| 3 Years ago | EUR180.97 | 93.3 | 103.4 |
| 4 Years ago | EUR154.01 | 82.9 | 96.9 |
| 5 Years ago | EUR143.37 | 82.2 | 97.1 |
4.5 EPS growth [FY2021 vs FY2020] of -3.2%:
| FY | EPS (EUR) | Growth % |
| 2021 | 15.96 | -3.2 |
| 2020 | 16.48 | -12.8 |
4.6 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Periods with TSR < 4.8%
| TSR % | 1 yr | 3 yrs | 20 yrs | 30 yrs |
| ALV.ETR | 0.9 | 4.6 | 4.6 | 4.7 |
4.7 Declining Volume, down 99% in 5 years
In the past five years, Average Daily Volume of Trading (ADVT) has decreased 98.6% to 972,469 shares.
Avg. Daily Volume Traded 12 months ended Aug 02, thousand shares
| Year | ADVT |
| 2022 | 972.5 |
| 2021 | 1086.5 |
| 2020 | 1424.6 |
| 2019 | 21559.8 |
| 2018 | 69501.2 |
4.8 Declining share turnover, down 98% in 5 years
In the past five years, average daily share turnover has decreased 98.2% to EUR187.3 million ($192.3 million). This suggests decreased liquidity.
Past five years, 12 months ended Aug 02 (EUR million)
| Year | Average Daily Turnover |
| 2022 | 187.3 |
| 2021 | 197.3 |
| 2020 | 225.1 |
| 2019 | 3274.9 |
| 2018 | 10435.2 |
4.9 Satisfies 4 out of 9 criteria of Joseph Piotroski [pass mark 5]:
- Positive net income.
- Positive operating cashflow.
- Good quality of earnings [operating cashflow exceeds net income].
- Reduction in total shares on issue.
But does not meet the following 5 criteria of Joseph Piotroski:
- Return on Assets improvement.
- Improvement in long-term debt to total assets.
- Improvement in current ratio.
- Improvement in gross margin.
- Improvement in asset turnover.
SECTION 5 TODAY'S BULLISH SIGNALS
5.1 PAST WEEK: WEAK MOMENTUM UP - ALV strengthens 1.5% on volume 0.8 times average
The price ranged between a low of EUR173.38 on Thursday Jul 28 and a high of EUR178.28 on Monday Aug 01.
| Date | Allianz | Close [EUR] | Change % | RPC % * | Comment |
| Wed Jul 27 | Offers earnings yield of 9.2% | 173.82 | 0.1 | -0.4 | |
| Thu Jul 28 | Offers dividend yield of 6.2% | 173.38 | -0.3 | -1.2 | Week-low of 173.38 |
| Fri Jul 29 | Offers earnings yield of 9% | 177.32 | 2.3 | 0.8 | Top Rise; VI*=1.2 |
| Mon Aug 01 | Offers dividend yield of 6.1% | 178.28 | 0.5 | 0.3 | Week-high of 178.28 |
| Tue Aug 02 | Offers earnings yield of 9.1% | 176.24 | -1.1 | -0.8 | Steepest Fall |
* RPC - Relative Price Change is % price change of stock less % change of the DAX Index.
[Volume Index (VI); 1 is average]
5.2 Rank in the top 24% by Relative Valuation in the German market
| Description | Value | Rank |
| Dividend Yield % | 6.1% | In Top 6% |
| P/E * P/NTA | 13.03 | In Top 23% |
| Price/Earnings | 11 | In Top 24% |
5.3 Undervaluation
Price/Earnings:
Allianz stock is trading at the second lowest P/E multiple in the DAX Index.
Dividend Yield:
Allianz stock is the third highest dividend yielding stock in the DAX Index.
Dividend Yield > Bond Yield of 0.78%:
The dividend yield of 6.13% is 7.86 times the triple-A bond yield of 0.78%. The times factor of 7.86 is above the benchmark factor of 0.67 times set by Benjamin Graham.
(All figures in %)
| Dividend Yield | 6.13 |
| Bond Yield | 0.78 |
| Spread | 5.36 |
The Dividend Yield of 6.1% is better than the Index average of 3.9%
- The relative yield of the stock, defined by its yield of 6.1%, divided by average yield of dividend yielding stocks in the DAX Index of 3.9% is 159.2%. This suggests the stock is undervalued in dividend yield terms.
Brand Value/Enterprise Value:
- Brandirectory have estimated Allianz brand value at EUR12.3 billion ($12.7 billion). The Brand Value represents an impressive 15.1% of the estimated Enterprise Value of EUR81.9 billion ($84.1 billion). Enterprise Value is defined as MCap of EUR77.6 billion plus net debt of EUR4.3 billion.
5.4 Other Bullish Signals
- Net profit margin has averaged 6.3% in the last 3 years. This is better than the sector average of 5.3% and suggests a high margin of safety.
SECTION 6 ONGOING BULLISH PARAMETERS
6.1 Rank in the top 20% by Size in the German market
| Description | Value | Rank |
| Ave daily Turnover | EUR115.7 million ($118.8 million) | In Top 1% |
| Annual Revenue | EUR122.2 billion ($125.5 billion) | In Top 3% |
| MCap | $80 billion | In Top 20% |
6.2 Present Value of EUR1000 Invested in the Past [1 Yr, 3 Yrs]; The Best Periods with PVEUR1000 > 1,008
| PVEUR1,000 | 1 yr ago | 3 yrs ago |
| ALV.ETR | EUR1,009 | EUR1,147 |
| Insurance sector | EUR1,127 | EUR1,222 |
| DAX Index | EUR864 | EUR1,133 |
6.3 Moving Annual Return of 1.7% in the past year:
Moving Annual Return was 1.7% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 10.5%. The Moving Annual Return has been positive in 4 of the last 5 years.
| ALV | Close (EUR) | Dividends (EUR) | Capital Gain / (Loss) % | % Yield | Annual Return % |
| Aug 02 | 176.24 | 10.8 | (4.2) | 5.9 | 1.7 |
| 1 Yr ago | 183.9 | 9.6 | 14.9 | 6 | 20.9 |
| 2 Yrs ago | 160.06 | 9.6 | (11.6) | 5.3 | (6.3) |
| 3 Yrs ago | 180.97 | 9 | 17.5 | 5.8 | 23.4 |
| 4 Yrs ago | 154.01 | 8 | 7.4 | 5.6 | 13.0 |
Close 5 years ago EUR143.37
6.4 Buybacks and 3-Years Decrease of 3.8% in Total Shares on Issue
In the past 3 years total shares on issue have decreased by 16.4 million (3.8%) from 428.1 million to 411.7 million. Buybacks have averaged 4.1 million shares [1%] per financial year. Based on a dynamic start date of 3 years ago, there has been no rise in issued capital over the last 3 years. A reduction in total shares on issue is a favourable indicator in Joseph Piotroski's 9 indicators.
| Year End (Dec 31) | Total Shares on Issue | FY | Buybacks | Buyback % |
| 2021 | 411,689,041 | 2021 | 2,775,354 | 0.7% |
| 2020 | 414,464,395 | 2020 | 4,284,636 | 1% |
| 2019 | 418,749,031 | 2019 | 9,357,885 | 2.2% |
| 2018 | 428,106,916 | 2018 | - | - |
| Total | 16,417,875 | |||
| Average per FY | 4,104,469 |
6.5 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 9.8%
| TSR % | 5 yrs | 10 yrs |
| ALV.ETR | 9.9 | 14.3 |
6.6 Increased VWAP, up 29% in 5 years
In the past five years Volume Weighted Average Price (VWAP) has increased by 29.3% to EUR192.63. Based on a dynamic start date of five years ago, there has been no decline in VWAP over the last 5 years.
Past five years, 12 months ended Aug 02 (EUR)
| Year | High Price | VWAP | Low Price |
| 2022 | 220.74 | 192.63 | 168.2 |
| 2021 | 212.2 | 179.45 | 134.97 |
| 2020 | 198.7 | 158.04 | 100.03 |
| 2019 | 187.13 | 152.51 | 139.35 |
| 2018 | 162.28 | 148.95 | 138.74 |
6.7 Satisfies three criteria of Benjamin Graham
- The P/E of 11 multiplied by the P/NTA of 1.2 is 13.0. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.
- "An earnings-to-price yield of at least twice the triple-A bond"; the stock's earning yield of 9.1% is 11.7 times the triple-A bond yield of 0.8%.
- "A dividend yield of at least two-thirds the triple-A bond yield"; the stock's dividend yield is 7.9 times the triple-A bond yield of 0.8%.
6.8 Year-over-year (%) Change in Dividend:
Final dividend for FY 2021 was EUR10.80. The year-on-year change was up 12.5% from EUR9.60 in the previous year FY 2020.
| Final | FY 2020 | FY 2021 |
| Dividend (EUR) | 9.6 | 10.8 |
SECTION 7 CORPORATE PROFILE AND INDEPENDENT RATINGS
7.1 Activities
Allianz SE is a German-based financial service company. The Company is the holding company of the Allianz Group (Allianz SE and its subsidiaries). The Company's segments include Property-Casualty, Life/Health, Asset Management, and Corporate and Other. The Company provides a range of reinsurance coverage, primarily to Allianz insurance entities, as well as to third-party customers. The Property-Casualty segment offers a range of products and services for both private and corporate clients. The Life/Health segment offers a range of life and health insurance products on both an individual and a group basis. The Asset Management segment provides institutional and retail asset management products and services to third-party investors, and provides investment management services to the Allianz Group's insurance operations. The Corporate and Other segment includes Holding & Treasury, Banking and Alternative Investments. It is Germany's largest Insurance company by market capitalisation.
7.2 Independent Ratings and Relative Value Indicators
+ Corporate Knights:
It is a new entrant, ranked 49 by Corporate Knights Capital in the World's 100 most sustainable corporations 2021.
Attractive dividend yield compared to sector average
ALV Dividend Yield of 6% > Sector Ave 0.9%
The dividend yield of 6% for the stock is at a discount of 85% to the Corporate Knights sector average of 0.9%.
Good value compared with sector average
P/E - ALV 11 < Sector Ave 17
ALV P/E of 11 is at a discount of 35% to the Corporate Knights sector average of 17.
+ Newsweek 500:
It was ranked 169 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 7.4% in Carbon productivity, 5.2% in Energy productivity and 3.2% in Waste productivity.
7.3 Contact Details
| Website | https://www.allianz.com/ |
| Physical Address | Koeniginstrasse 28 Muenchen BAYERN 80802 |
| Phone | 498938000 |
| Fax | +49 (0) 89-3800-3899 |
| investor.relations@allianz.com |
7.4 Industry & Sector
| Classification Level | Name of Sector |
| Business Sector | Insurance |
| Industry Group | Insurance |
| Industry | Life & Health Insurance |
| Economic Sector | Financials |
SECTION 8 FINANCIALS FY 2021
8.1 Financials, FY 2021 [year-ended 31 December 2021 ]
Allianz Net Profit down 2.9%
Release Date: April 12, 2022
Allianz (ETR:ALV) reported net profit for the year-ended 31 December 2021 [FY2021] of EUR6.6b ($7.5b), down 2.9% from EUR6.8b ($8.3b) in the previous year [FY2020]. Earnings per share (EPS) were down 3.2% from EUR16.48 ($20.15) in FY2020 to EUR15.96 ($18.06) in FY2021.
8.2 Annual growth in Revenue, Net Profit and EPS
| Year-ended | 31 December [FY/2021] | 31 December [FY/2020] |
| Revenue, EUR Billion | 122 | 120 |
| Revenue, $ Billion | 138 | 135 |
| Growth in Revenue % | 2.3 | 2.6 |
| Net Profit, EUR Billion | 6.6 | 6.8 |
| Net Profit, $ Billion | 7.5 | 7.7 |
| Growth in Net Profit % | -2.9 | -14.0 |
| EPS, EUR | 15.96 | 16.48 |
| Growth in EPS % | -3.2 | -12.8 |
Major changes compared with previous year (FY2021 vs FY2020):
Favourable Changes:
- Total revenue up 2.3% from EUR119.5b ($146.1b) to EUR122.2b ($138.3b)
- Total non-current assets to Total Assets up from 1.5% to 1.6%
Unfavourable Changes:
- Net profit down 2.9% from EUR6.8b ($8.3b) to EUR6.6b ($7.5b)
- EPS down 3.2% from EUR16.48 ($20.15) to EUR15.96 ($18.06)
- EBIT Margin down from 79.7% to 68.0%
- EBIT to total assets down from 0.9% to 0.8%
- Profit before tax to Sales down from 79.7% to 68%
Year-on-year comparison of Performance Ratios [FY2021 vs FY2020]
| December 31 | FY2021 | FY2020 | Change (%) |
| Return on Equity (%) (Steady % from 8.4 to 8.4) | 8.4 | 8.4 | Steady |
| Return on Assets (%) | 0.6 | 0.7 | Down 14.3 |
| Common Size Ratios by Assets % | |||
| Current Debtors to Total Assets | 10.9 | 11.0 | Down 0.9 |
Currency Conversion (December 31, 2021): $1 = EUR0.88
Currency Conversion (December 31, 2020): $1 = EUR0.82
Five-year record of growth and performance:
In the last 5 years Total Revenue averaged EUR95B ($107.5B), EBITDA averaged EUR9B ($10.2B) and Net Profit averaged EUR6.8B ($7.7B). Compound Annual Growth Rate (CAGR) averaged 66.9% for Total Revenue, 9.9% for Net Profit and 21.1% for EBITDA.
| Description | Annual (EUR B) | Annual ($ B) | 5-year Avg (EUR B) | 5-year Avg ($ B) | 5-year CAGR % |
| Total Revenue | 122.2 | 138.3 | 95 | 107.5 | 66.9 |
| EBITDA | 9.2 | 10.4 | 9 | 10.2 | 21.1 |
| Operating Profit | 9.5 | 10.8 | 9.3 | 10.5 | 21.9 |
| Net Profit | 6.6 | 7.5 | 6.8 | 7.7 | 9.9 |
Five-year record of EBITDA, Operating Profit, Net Profit, ROE, ROA and ROCE
In 2021 Net Profit Margin of 50.8% was above its 5-year Avg of 13.0% (All Figures in %)
| Description | 2021 | 5-year Avg |
| EBITDA Margin | 7.5 | 14.6 |
| Operating Profit Margin | 68 | 14.8 |
| Net Profit Margin | 50.8 | 13 |
| Return on Equity | 8.4 | 9.7 |
| Return on Assets | 0.6 | 1.2 |
| Return on Capital Employed | 0.8 | 1.4 |
SECTION 9 DIVIDEND
9.1 Dividend History
In the past 5 years annual dividends have increased by EUR2.8 from EUR8.0 to EUR10.8. Based on a start date of 5 years ago, there has been no decline in dividends over the last 5 years.
| Date | Value (EUR) | Type |
| 05 May 2022 | 10.8 | Final |
| Tr 12 Months | 10.8 | |
| 2020 - 2021 | 9.6 | |
| 2019 - 2020 | 9.6 | |
| 2018 - 2019 | 9 | |
| 2017 - 2018 | 8 |
SECTION 10 TOP MANAGEMENT
10.1 Top Management
Top Management [Two top executives tenure Not Available]
| Name | Designation |
| Oliver Baete | Chief Executive Officer, Chairman |
| Michael Diekmann | Independent Non-Executive Chairman |
10.2 Profiles of Top Management
Oliver Baete
CEO & Chairman
Personal details
Date of birth
March 1, 1965
Place of birth
Bensberg, Germany
Nationality
German
Education
Apprenticeship at Westdeutsche Landesbank, Cologne, Germany
University of Cologne, Business Administration
Leonard Stern School of Business, New York University, MBA
Professional career
1993 - 1994
McKinsey & Company, New York
1995 - 1998
McKinsey & Company, Germany
1998 - 2003
McKinsey & Company, Germany, Principal, Leader of the German Insurance Practice
2003 - 2007
McKinsey & Company, Germany, Director, Leader of the European Insurance and Asset Management Sector
2008 - September 2009
Member of the Board of Management of Allianz SE, Chief Operating Officer (COO)
September 2009 - 2012
Member of the Board of Management of Allianz SE, Controlling, Reporting, Risk (CFO)
2013 - 2014
Member of the Board of Management of Allianz SE, responsible for the insurance business in France, Benelux, Italy, Greece, Turkey, and for the Center of Competence "Global Property & Casualty"
January - May 7, 2015
Member of the Board of Management of Allianz SE, responsible for the Center of Competence "Global Property & Casualty"
Since May 7, 2015
Chairman of the Board of Management of Allianz SE (CEO)
September 2015 - March 2018
Additionally responsible for Human Resources (Director responsible for Work and Social Welfare)
Michael Diekmann
Independent Non-Executive Chairman
Position Member of various Supervisory Boards
Personal details
Date of birth
December 23, 1954
Place of birth
Bielefeld, Germany
Place of residence
Munich, Germany
Nationality
German
Committees
Standing Committee (Chair)
Personnel Committee (Chair)
Audit Committee
Risk Committee (Chair)
Technology Committee
Nomination Committee (Chair)
Education
First state examination for lawyers (1. Jur. "Staatsexamen"), University of Gottingen
Second state examination for lawyers (2. Jur. "Staatsexamen"), Lower Saxony
Professional career
1983 - 1988
Diekmann/Thieme GbR (publishing house), CEO
1988 - 1996
Allianz Versicherungs-AG, various positions in sales and product development
1996 - 1998
Allianz Versicherungs-AG, Head of Asia-Pacific Region, Singapore
1998 - 2000
Allianz AG, Deputy Member of the Board of Management with responsibility for Asia-Pacific Region (01 - 02/2000 additional responsibility for Eastern Europe, Middle East and Africa)
2000 - 2001
Allianz AG, Member of the Board of Management, responsible for the Asia-Pacific Region, Eastern Europe, Middle East and Africa (CEEMA)
2002 - 2003
Allianz AG, Member of the Board of Management, responsible for North and South America and Personnel Development at the Allianz Group
2003 - 2015
Allianz SE (formerly Allianz AG), Chairman of the Board of Management
SECTION 11 BOARD OF DIRECTORS
11.1 Board Of Directors
Board Of Directors [One director with tenure < 1 yr]
| Name | Since Appointment |
| Sirma Boshnakova | 10 Mos |
Board Of Directors [Nineteen directors tenure Not Available]
| Name | Designation |
| Christof Mascher | Director |
| Giulio Terzariol | Director |
| Niran Peiris | Director |
| Sergio Balbinot | Director |
| Guenther Thallinger | Director |
| Klaus-Peter Roehler | Director |
| Renate Wagner | Director |
| Ivan De La Sota | Director |
| Jacqueline Hunt | Director |
| Friedrich Eichiner | Independent Non-Executive Director |
| Herbert Hainer | Independent Non-Executive Director |
| Christine Bosse | Independent Non-Executive Director |
| Sophie Boissard | Independent Non-Executive Director |
| Jurgen Lawrenz | Non-Executive Director |
| Godfrey Robert Hayward | Non-Executive Director |
| Martina Grundler | Non-Executive Director |
| Gabriele Burkhardt Berg | Non-Executive Director |
| Jean-Claude Le Goaer | Non-Executive Director |
| Frank Kirsch | Non-Executive Director |
11.2 Profiles of Board of Directors
Guenther Thallinger
Director
Personal details
Date of birth
January 24, 1972
Place of birth
Graz, Austria
Nationality
Austrian
Education
Technical University of Graz and Vienna, Technical Mathematics
Technical University of Vienna, Dissertation in Applied Mathematics
Professional career
1996 - 1998
Scientist, Technical University of Vienna
1999 - 2004
McKinsey & Company, Cologne & Vienna
2005 - 2009
Principal, McKinsey & Company
2009 - 2011
CFO, Allianz Investment Management (AIM SE)
2012- 2016
CEO, Allianz Investment Management (AIM SE)
Since January 1, 2017
Member of the Board of Management of Allianz SE, responsible for Investments and the Center of Competence "Global Life & Health"
Since January 1, 2018
Additionally Chairman of the ESG Board
Renate Wagner
Director
Personal details
Date of birth
September 29, 1974
Place of birth
Heltau, Romania
Nationality
German
Education
Diploma in Mathematics, University of Paderborn
Master of Business Administration, Heriot-Watt University, Edinburgh
Professional career
1998 - 2000
Risk Analyst, Westdeutsche Landesbank AG, Dusseldorf
2001 - 2005
Senior Consultant, KPMG AG Wirtschaftsprufungsgesellschaft, Munich
2005 - 2006
Head of Accounting, Risk Controlling and Regulatory Reporting, dab Bank AG, Munich
2006 - 2008
Head of Change Management, Zurich Insurance Group, Zurich
2008 - 2010
Head of Capital & Liquidity Management and Risk Based Capital, Zurich Insurance Group, Zurich
2010 - 2013
Head of Business Performance Management, Strategic Finance and Divisional Treasurer, Zurich Insurance Group, Zurich
2013 - 2014
Head of CFO Office, Allianz SE, Munich
2014 - 2015
Head of CEO Office, Allianz SE, Munich
2015 - 2018
Regional CFO and Head of Life & Health Asia-Pacific, Allianz SE, Singapore
01 - 03/2019
Regional CEO Life & Health Asia-Pacific, Allianz SE, Singapore
04 - 12/2019
Head of Human Resources, Allianz SE, Munich
Since January 1, 2020
Member of the Board of Management of Allianz SE, responsible for Human Resources, Legal, Compliance, Mergers & Acquisitions
Giulio Terzariol
Director
Personal details
Date of birth
November 26, 1971
Place of birth
San Dona' di Piave, Italy
Nationality
Italian
Education
Laurea (Master Degree) in Business Administration, Luigi Bocconi University, Milan
Scholarships PIM/CEMS, University Cologne
Professional career
1995 - 1997
Trainee, Generali Insurance, Munich
1998 - 2000
Financial analyst, Group Planning and Controlling, Allianz SE
2001 - 2004
Head of International Insurance Controlling, Allianz SE
2005 - 2007
CFO, Allianz Insurance Management Asia Pacific, Singapore
2007 - 2008
Business Financial Officer, Allianz Life Insurance Company of North America, Minneapolis
2008 - 2015
CFO, Allianz Life Insurance Company of North America, Minneapolis
2016 - 2017
Head of Group Planning and Controlling, Allianz SE
Since January 1, 2018
Member of the Board of Management of Allianz SE, Finance, Controlling, Risk (CFO)
Klaus-Peter Roehler
Director
Personal details
Date of birth
November 4, 1964
Place of birth
Landau, Germany
Nationality
German
Education
Bank apprenticeship, Vereins- und Westbank, Hannover
1. and 2. state law exams and PhD in law, Gottingen University
Study of economics and Master Degree in Business Administration (Diplom-Kaufmann), Gottingen University
Professional career
1996 - 1999
Executive Assistant to the Head of North-Rhine Westphalia regional office, Allianz Versicherungs-AG, Cologne
1999 - 2000
Regional Sales Manager Agent Channel, North-Rhine Westphalia regional office, Allianz Versicherungs-AG, Soest
2000 - 2001
Department Head for Property & Casualty small/medium commercial customers, North-Rhine Westphalia regional office, Allianz Versicherungs-AG, Cologne
2001 - 2002
Head of Banking Sales, North-Rhine Westphalia regional office, Allianz Versicherungs-AG, Cologne
2002 - 2003
Allianz-Dresdner Integration Office, Munich (as of 07/2002 Head of Office)
2003 - 2006
Head of CEO Office, Allianz SE, Munich
2006 - 2007
Senior Vice President, Business Division Europe I (Italy, Spain, Switzerland, Austria, Portugal, Greece and Turkey), Allianz SE, Munich
2007 - 2012
General Manager & COO, Allianz S.p.A, Milan
2012 - 2013
CEO and delegate of the Board of Directors, Allianz Suisse, Zurich
2014 - 2017
CEO, Allianz S.p.A., Milan
Since 2018
CEO, Allianz Deutschland AG, Munich
Since April 1, 2020
Member of the Board of Management of Allianz SE, Insurance German Speaking Countries and Central & Eastern Europe
Sergio Balbinot
Director
Personal details :
Date of birth
September 8, 1958
Place of birth
Tarvisio, Italy
Education :
Master Degree in Business Administration, University of Bologna
Professional career :
1983 - 1989
Various positions, Assicurazioni Generali SpA, Triest and Deutscher Lloyd, Munich (subsidiary of Assicurazioni Generali)
1989 - 1992
Head of branch office, Assicurazioni Generali, Zurich
1992 - 1995
Member of the Executive Committee, Europ Assistance S.A., Paris (subsidiary of Assicurazioni Generali), responsible for international business
1995 - 1998
Various management positions, Assicurazioni Generali SpA, Triest
1998 - 2000
Deputy General Manager, Assicurazioni Generali SpA, Triest
2000 - 2002
General Manager, Assicurazioni Generali SpA, Triest
2002 - 2012
Managing Director, Assicurazioni Generali SpA, Triest
2012 - 2014
Group Chief Insurance Officer, Assicurazioni Generali SpA, Triest
Since January 1, 2015
Member of the Board of Management of Allianz SE, responsible for the insurance business in the countries of western and southern Europe (France, Benelux, Italy, Greece, Turkey) and Africa, excluding North Africa
Since September 1, 2015
Additionally responsible for the insurance business in Middle East, North Africa and India
Membership in comparable supervisory bodies (listed on a stock exchange or more than 500 employees) :
Allianz France S.A. (Group mandate)
Allianz S.p.A. (Group mandate, Vice Chairman)
Allianz Sigorta A.S. (Group mandate, Vice Chairman)
Allianz Yasam ve Emeklilik A.S. (Group mandate)
UniCredit S.p.A.
Membership in other official bodies :
Insurance Europe (President)
Christof Mascher
Director
Personal details
Date of birth
July 2, 1960
Place of birth
Lienz (East Tyrol), Austria
Nationality
Austrian
Education
M.A. Philosophy, University of Vienna
Doctorate degree in law, University of Innsbruck
Professional career
1989 - 1993
Business Division Commercial Lines/Broker, Wiener Allianz
1993 - 1995
Head of Business Organization, Wiener Allianz/Anglo Elementar
1994 - 1995
Head of Information Technology, Wiener Allianz/Anglo Elementar
1995 - 2000
Head of Information Management (Information Technology and Business Organization), Allianz Elementar (Merger 1997)
2000 - 2005
Member of the Board of Management of Allianz Elementar, Chief Financial Officer (CFO), Chief Operating Officer (COO)
2006 - 2010
Member of the Board of Management of Allianz Deutschland AG, Chief Operating Officer (COO)
Since September 2009
Member of the Board of Management of Allianz SE, Chief Operating Officer (COO)
Ivan De La Sota
Director
Personal details
Date of birth
September 18, 1964
Place of birth
Bilbao, Spain
Nationality
Spanish
Education
Master Degree in Business Administration, University of Augsburg
Master of Business Administration, City University Business School, London
Professional career
1991 - 1995
Country Manager Spain & Portugal, Business Division Southern Europe, Allianz AG
1995 - 1998
Head of Planning and Controlling, Allianz CompaNia de Seguros y Reaseguros S.A., Barcelona, Spain
1998 - 2004
CFO, Allianz CompaNia de Seguros y Reaseguros S.A., Barcelona, Spain
2000 - 2006
Head of divisions industrial insurance and corporate clients, life insurance, e-business, Allianz CompaNia de Seguros y Reaseguros S.A., Barcelona, Spain
CEO Fenix Directo, Spain
2007 - 2010
CEO, Allianz Companhia de Seguros Allianz Portugal S.A., Lisbon, Portugal
2011 - 2012
Member of the Board of Mangement, Deputy CEO, Allianz CompaNia de Seguros y Reaseguros S.A., Barcelona, Spain
2012 - 2015
CEO, Allianz CompaNia de Seguros y Reaseguros S.A., Barcelona, Spain
2015 - 2018
Regional CEO of Iberia & Latin America, Sao Paulo, Brazil
Since April 1, 2018
Member of the Board of Management of Allianz SE, Chief Business Transformation Officer, responsible for the European direct insurance companies, the global business line Allianz Partners, and for the Iberian and Latin American region
Niran Peiris
Director
Personal details
Date of birth
July 28, 1961
Place of birth
Colombo, Sri Lanka
Nationality
Australian
Education
Bachelor of Laws and Bachelor of Economics, Sydney University
Associate Chartered Accountant (ACA), Institute of Chartered Accountants
Professional career
1985 - 1987
Tax Senior, Coopers & Lybrand, Sydney
1987 - 1988
Manager Taxation Services Division, Bird Cameron Chartered Accountants, Sydney
1988 - 1992
Group Taxation Manager, FAI Insurance Group, Sydney
1992 - 1995
Financial Controller Corporate, FAI Insurance Group, Sydney
1995 - 1999
Group Financial Controller, FAI Insurance Group, Sydney
1999 - 2000
General Manager Finance & Administration, QBE Insurance Australia Ltd., Sydney
2000 - 2001
General Manager Finance, Allianz Australia Ltd., Sydney
2002 - 2009
CFO, Allianz Australia Ltd., Sydney
2009 - 2012
Chief General Manager Retail Distribution, Allianz Australia Ltd., Sydney & CEO, Allianz Australia Life Insurance Ltd., Sydney
2013 - 2017
Managing Director, Allianz Australia Ltd., Sydney
Since January 1, 2018
Member of the Board of Management of Allianz SE, responsible for Global Insurance Lines & Anglo Markets, Reinsurance, Middle East, Africa
Jacqueline Hunt
Director
Personal details :
Date of birth
April 27, 1968
Place of birth
Johannesburg, South Africa
Education :
Bachelor of Accounting, University of Witwatersrand
Bachelor of Commerce, University of Witwatersrand
Chartered Accountant, South African Institute of Chartered Accountants
Professional career :
1991 - 1995
Audit Manager, Deloitte & Touche, South Africa and New Zealand
1995 - 1997
Senior Audit Manager, PricewaterhouseCoopers, New Zealand
1997 - 1999
Director Global Capital Markets, PricewaterhouseCoopers, New York
1999 - 2003
Deputy Director Capital Management, Royal & Sun Alliance Insurance Group plc, London
2003 - 2004
Director of Group Financial Reporting, Aviva plc, London
2004 - 2005
Corporate Office Finance Director, Aviva plc, London
2005 - 2007
Group Finance Director, Hibernian Group plc,
Dublin
2007 - 2008
Chief Finance Officer, Norwich Union Insurance, Norwich
2009 - 2013
Chief Financial Officer, Standard Life plc,
Edinburgh
2013 - 2015
CEO, Prudential UK and Europe and member of the Board of Prudential plc, London
Since July 1, 2016
Member of the Board of Management of Allianz SE, responsible for Asset Management, US Life Insurance
Membership in other statutory supervisory and SE administrative boards in Germany : ---
Membership in comparable supervisory bodies (listed on a stock exchange or
more than 500 employees) : ---
Christine Bosse
Independent Non-Executive Director
Personal details
Date of birth
December 21, 1960
Place of birth
Virum, Denmark
Place of residence
Dronningmolle, Denmark
Nationality
Danish
Committees
Risk Committee
Nomination Committee
COMMITTEES
Education
Master of Law, University of Copenhagen, Denmark Management training programmes at INSEAD, France; Wharton University of Pennsylvania, USA; and Harvard Business School, USA
Professional career
1988 - 1990
Tryg, Copenhagen, Denmark, Head of Claims Department
1990 - 1991
Tryg, Head of Underwriting
1991 - 1993
Tryg, Deputy Head of Corporate Department for Claims and Underwriting
1993 - 1995
Tryg, Personnel Department
1995 - 1999
Tryg, Head of the Personnel Department
1999 - 2003
Tryg, Director
2003 - 2011
Tryg, Chief Executive Officer
Date of first appointment August 15, 2012
Herbert Hainer
Independent Non-Executive Director
Personal details
Date of birth
July 3, 1954
Place of birth
Dingolfing, Germany
Place of residence
Herzogenaurach, Germany
Nationality
German
Committees
Standing Committee
Personnel Committee
COMMITTEES
Education
Diploma in Business Administration, University of Applied Sciences Landshut Professional career
1979 - 1987
Procter & Gamble GmbH, Sales and Marketing Manager Germany
1987 - 1989
adidas AG, Sales Director Hardware (racquets, balls, bags)
1989 - 1991
adidas AG, Sales Director Field
1991 - 1993
adidas AG, General Sales Manager Germany
1993 - 1995
adidas AG, Manager Sales and Logistics Germany
1996 - 1997
adidas AG, Senior Vice President Sales and Logistics Europe, Africa, Middle East
1997 - 2000
adidas AG, Member of the Board of Management, Sales and Logistics Europe, Africa, Middle East, Asia and Pacific
2000 - 2001
adidas AG, Deputy Chairman of the Board of Management
2001 - 2016
adidas AG, Chairman of the Board of Management
Date of first appointment May 3, 2017
Friedrich Eichiner
Independent Non-Executive Director
Personal details
Date of birth
April 9, 1955
Place of birth
Eichstatt, Germany
Place of residence
Munich, Germany
Nationality
German
Committees
Audit Committee (Chair)
Risk Committee
Technology Committee
COMMITTEES
Education
Diploma in Business Administration, Ludwig Maximilians University, Munich
PhD (Dr. oec. publ.), Ludwig Maximilians University, Munich
Professional career
1987 - 1999
BMW AG, various management and project-management tasks in the areas of logistics and IT
1999 - 2002
BMW AG, Director of Sales Development, Sales Management
2002 - 2007
BMW AG, Director of Corporate Planning
2007 - 2008
BMW AG, Member of the Board of Management, Corporate and Brand Development
2008 - 2016
BMW AG, Member of the Board of Management, Finance
Date of first appointment May 4, 2016
Sophie Boissard
Independent Non-Executive Director
Position Chairwoman of the Board of Management, Korian S.A.
Personal details
Date of birth
July 11, 1970
Place of birth
Paris, France
Place of residence
Paris, France
Nationality
French
Committees
Audit Committee
COMMITTEES
Education
Bachelor's Degree in German Language and Literature, Paris-Sorbonne University, Paris, France
Degree from Institut d'Etudes Politiques de Paris, France
Master Degree in Contemporary History, Paris-Sorbonne University, Paris, France
Graduated from the school of public administration ENA (Ecole Nationale d'Administration), France
Executive Training Programme, London Business School, UK
Professional career
1996 - 2004
State Council, Paris, France, Judge
2004 - 2005
Ministry of Labour, Paris, France, Deputy Chief of Staff
2005 - 2007
Office of the Prime Minister, Paris, France, Director General, Strategic Analysis Centre
2007 - 2008
Ministry of Finance and Labour, Paris, France, Deputy Office Manager
2008 - 2009
Societe Nationale des Chemins de fer Francais (SNCF), Paris, France, Executive Director in the areas of Rail Strategy & Regulation
2009 - 2012
SNCF, Member of the Board of Management, Director General of the Stations & Connections Division
2012 - 2014
SNCF, Member of the Board of management, Deputy Director General of the Areas of Strategy & Development
2014 - 2015
SNCF, Member of the Board of Management, Director General of the Real Estate Division
From 2016
Korian S.A., Paris, France, Chairwoman of the Board of Management
Date of first appointment May 3, 2017
Jurgen Lawrenz
Non-Executive Director
Position : Employee, Allianz Managed Operations & Services SE
Personal details :
Date of birth
April 1, 1963
Place of birth
Stuttgart, Germany
Place of residence
Winnenden, Germany
Committees : Risk Committee
Education :
Advanced technical college entrance certificate (Fachhochschulreife)
Apprenticeship as office machine electronics technician
Professional career :
1987 - 1991
Bunker Ramo Corp. (later Philips PKI AG), systems engineer for banking systems
1991 - 1998
Allianz Lebensversicherungs-AG, Stuttgart, systems programmer
Since 1999
Allianz Gesellschaft fur Informatik Services GmbH (later Allianz Managed Operations & Services SE), systems programmer / IT engineer in various areas; works council activitiy, inter alia Deputy Chairman of the Central Works Council
Since 2011
Allianz SE, Deputy Chairman of the Goup Works Council
Since 2013
Allianz Managed Operations & Services SE, Chairman of the SE Works Council
Since 2015
Allianz SE, member of the SE Works Council
Date of first appointment : August 1, 2015
Membership in other statutory supervisory and SE administrative boards in Germany :
Allianz Versorgungskasse VVaG, Munich
Allianz Managed Operations & Services SE, Munich
No membership in comparable supervisory bodies (listed on a stock exchange or more than 500 employees) :
Gabriele Burkhardt Berg
Non-Executive Director
Personal details
Date of birth
May 20, 1960
Place of birth
Dresden, Germany
Place of residence
Euskirchen, Germany
Nationality
German
Committees
Personnel Committee
Technology Committee
COMMITTEES
Education
Training for insurance clerk (Versicherungskauffrau)
Professional career
1979 - 2001
Allianz Versicherungs-AG, Cologne - clerk and deputy head of different departments
2002 - 2008
Allianz Versicherungs-AG, Cologne - Chair of the Works Council released of normal duties
Since 2008
Allianz Deutschland AG, Cologne - Chair of the Works Council released of normal duties
2007 - 2011
Allianz Deutschland AG, Munich - Chair of the Central Works Council
Since 2011
Allianz SE, Munich - Chair of the Group Works Council
Date of first appointment May 9, 2012
Martina Grundler
Non-Executive Director
Position : National representative insurances, Vereinte Dienstleistungsgewerkschaft ver.di, Berlin
Personal details :
Date of birth
February 6, 1962
Place of birth
Aachen, Germany
Place of residence : Euskirchen, Germany
Committees : Audit Committee
Education : Advanced college entrance
certificate (Allgemeine Hochschulreife)
Professional career :
1990 - 1999
DKV, Cologne - various positions, processing (Sachbearbeitung), contract services department 1999 - 2002
DKV, Cologne - project manager, public relations 2003 - 2004
DKV, Cologne - project coordinator, contract services department 2004 - 2005
DKV, Cologne - coordinator communications,
general services department
2005 - 2014
ERGO-Versicherungsgruppe, Cologne -
independent works council representative Since 2015
Vereinte Dienstleistungsgewerkschaft ver.di,
Berlin - national representative insurances
Date of first appointment : April 1, 2016
No membership in other statutory supervisory boards in Germany or comparable supervisory bodies (listed on a stock exchange or more than 500 employees) :
Frank Kirsch
Non-Executive Director
Personal details
Date of birth
July 10, 1967
Place of birth
Cologne, Germany
Place of residence
Cologne, Germany
Nationality
German
Committees
Risk Committee
COMMITTEES
Education
Apprenticeship as an insurance salesman (Versicherungskaufmann) with Allianz Versicherungs-AG
Professional career
1988 - 1999
Allianz Versicherungs-AG, clerk in motor liability department and expert for motor liability and defence insurance
2000
Allianz Versicherungs-AG, Head of Human Resources development
2001 - 2007
Allianz Beratungs- und Vertriebs-AG, manager sales and banking
Since 2007
Allianz Beratungs- und Vertriebs-AG, member of the Works Council (relieved from normal duties)
Date of first appointment September 1, 2018
Godfrey Robert Hayward
Non-Executive Director
Personal details
Date of birth
January 8, 1960
Place of birth
Ashford, United Kingdom
Place of residence
Ashford, United Kingdom
Nationality
British
Committees
Risk Committee
COMMITTEES
Education
Mechanical fitter apprenticeship, British Rail Engineering, United Kingdom
Completed ordinary & higher national certificates in mechanical engineering, Canterbury College of Technology, United Kingdom
Incorporated Engineer (IEng), Engineering Council
Professional career
1980 - 1987
British Rail Engineering, Ashford and London, United Kingdom, mechanical fitter, later first line supervisor
Since 1987
Allianz Insurance plc, Guildford, United Kingdom, engineer surveyor
Since 1997
Allianz Insurance plc, workplace representative for Allianz Engineering
Since 2001
Allianz Insurance plc, senior union representative of Unite for Allianz Engineering
2006 - 2012
Allianz SE, Member of the Supervisory Board and Risk Committee
Since 2007
Allianz SE, Vice Chairman of the European Works Council of Allianz
Since 2016
Allianz Pension Fund Trustees Limited, Guildford, United Kingdom, Director
Date of first appointment May 3, 2017
Jean-Claude Le Goaer
Non-Executive Director
Personal details
Date of birth
March 14, 1965
Place of birth
Saint-Cloud, France
Place of residence
Marly le Roi, France
Nationality
French
Committees
Standing Committee
Audit Committee
COMMITTEES
Education
Certificate of general mathematics
Engineering degree in nutrition and food industries, Ecole Nationale Superieure de Biologie Appliquee a la Nutrition et l'Alimentation, Dijon, France
Professional career
1991 - 2002
Assurances Generales de France S.A., Paris (since 2009 Allianz France S.A.), Analyst for the group retirement savings products, Analyst in the claims sector of P&C insurances, Manager of the IT team
2000 - 2015
AGF Informatique, Paris (since 2009 Allianz Informatique G.I.E.), Treasurer of Works Council and Trade Union Representative of Confederation francaise democratique du travail (CFDT, French trade union federation)
Since 2002
Judge at the Labour Court
Since 2012
CFDT, Member of the insurance sector
Since 2014
Allianz SE, Deputy Chairman of SE Works Council
2015 - 2019
Allianz Informatique G.I.E., Paris, Secretary of the Works Council Allianz Operations Allianz France S.A., Deputy Treasurer of the Common Works Council
Since 2019
Allianz France S.A., Member of the CSE (Comite Social et Economique - Social and Economic Committee)
Date of first appointment
August 1, 2018
SECTION 12 FINANCIALS AS REPORTED FY 2021, PAST 7 YEARS
12.1 Financials as reported (FY 2021 [year-ended 31 December 2021 ])
RESULTS OF OPERATIONS AND FINANCIAL CONDITION
(In EUR Million, except per share data and shares outstanding)
INCOME STATEMENT AS REPORTED (FY 2021 [year-ended 31 December 2021 ])
| Description | EUR Million | EUR Million | |
| Dec 31 | 2021 | 2020 | Change % |
| Gross premiums written | 86,063 | 82,986 | Up 3.7 |
| Ceded premiums written | -7,567 | -6,752 | Deterioration 12.1 |
| Change in unearned premiums (net) | -840 | -520 | Deterioration 61.5 |
| Premiums earned (net) | 77,656 | 75,714 | Up 2.6 |
| Interest and similar income | 23,137 | 21,395 | Up 8.1 |
| Income from financial assets and liabilities carried at fair value through income (net) | -2,008 | -69 | Deterioration 2,810.1 |
| Realized gains/losses (net) | 9,423 | 10,256 | Down 8.1 |
| Fee and commission income | 13,998 | 12,049 | Up 16.2 |
| Other income | 24 | 163 | Down 85.3 |
| Total income | 122,230 | 119,508 | Up 2.3 |
| Claims and insurance benefits incurred (gross) | -62,926 | -61,818 | Deterioration 1.8 |
| Claims and insurance benefits incurred (ceded) | 5,804 | 4,728 | Up 22.8 |
| Claims and insurance benefits incurred (net) | -57,121 | -57,091 | Deterioration 0.1 |
| Change in reserves for insurance and investment contracts (net) | -13,716 | -12,976 | Deterioration 5.7 |
| Interest expenses | -1,159 | -999 | Deterioration 16.0 |
| Loan loss provisions | -11 | -15 | Improved 26.7 |
| Impairments of investments (net) | -1,331 | -5,467 | Improved 75.7 |
| Investment expenses | -1,962 | -1,640 | Deterioration 19.6 |
| Acquisition and administrative expenses (net) | -31,422 | -26,644 | Deterioration 17.9 |
| Fee and commission expenses | -5,000 | -4,024 | Deterioration 24.3 |
| Amortization of intangible assets | -307 | -260 | Deterioration 18.1 |
| Restructuring and integration expenses | -666 | -788 | Improved 15.5 |
| Other expenses | -15 | ||
| Total expenses | -112,710 | -109,905 | Deterioration 2.6 |
| Income before income taxes | 9,520 | 9,604 | Down 0.9 |
| Income taxes | -2,415 | -2,471 | Improved 2.3 |
| Net income | 7,105 | 7,133 | Down 0.4 |
| Net income attributable to: | |||
| Non-controlling interests | 495 | 326 | Up 51.8 |
| Shareholders | 6,610 | 6,807 | Down 2.9 |
| Basic earnings per share () | EUR15.96 | EUR16.48 | Down 3.2 |
| Diluted earnings per share () | EUR15.83 | EUR16.32 | Down 3.0 |
| NO OF SHARES | 411,689,041 | 414,464,395 | Down 0.7 |
BALANCE SHEET AS REPORTED (FY 2021 [year-ended 31 December 2021 ])
| Description | EUR Million | EUR Million | |
| Dec 31 | 2021 | 2020 | Change % |
| ASSETS | |||
| Cash and cash equivalents | 24,214 | 22,443 | Up 7.9 |
| Financial assets carried at fair value through income | 19,604 | 21,191 | Down 7.5 |
| Investments | 663,649 | 656,522 | Up 1.1 |
| Loans and advances to banks and customers | 124,079 | 116,576 | Up 6.4 |
| Financial assets for unit-linked contracts | 158,346 | 137,307 | Up 15.3 |
| Reinsurance assets | 56,731 | 20,170 | Up 181.3 |
| Deferred acquisition costs | 23,756 | 21,830 | Up 8.8 |
| Deferred tax assets | 1,910 | 1,006 | Up 89.9 |
| Other assets | 48,264 | 45,573 | Up 5.9 |
| Non-current assets and assets of disposal groups classified as held for sale | 145 | 1,790 | Down 91.9 |
| 1,120,698 | 1,044,408 | Up 7.3 | |
| Intangible assets | 18,732 | 15,604 | Up 20.0 |
| 18,732 | 15,604 | Up 20.0 | |
| Total assets | 1,139,429 | 1,060,012 | Up 7.5 |
| LIABILITIES AND EQUITY | |||
| Financial liabilities carried at fair value through income1 | 20,891 | 24,079 | Down 13.2 |
| Liabilities to banks and customers | 15,468 | 14,722 | Up 5.1 |
| Unearned premiums | 27,501 | 25,341 | Up 8.5 |
| Reserves for loss and loss adjustment expenses | 86,974 | 80,897 | Up 7.5 |
| Reserves for insurance and investment contracts | 632,061 | 611,096 | Up 3.4 |
| Financial liabilities for unit-linked contracts | 158,346 | 137,307 | Up 15.3 |
| Deferred tax liabilities | 5,626 | 8,595 | Down 34.5 |
| Other liabilities | 86,596 | 49,005 | Up 76.7 |
| Liabilities of disposal groups classified as held for sale | 1,134 | ||
| Certificated liabilities | 10,788 | 9,206 | Up 17.2 |
| Subordinated liabilities | 10,956 | 14,034 | Down 21.9 |
| Total liabilities | 1,055,207 | 975,417 | Up 8.2 |
| Shareholders' equity | 79,952 | 80,821 | Down 1.1 |
| Non-controlling interests | 4,270 | 3,773 | Up 13.2 |
| Total equity | 84,222 | 84,594 | Down 0.4 |
| Total liabilities and equity | 1,139,429 | 1,060,012 | Up 7.5 |
CASH FLOW AS REPORTED (FY 2021 [year-ended 31 December 2021 ])
| Description | EUR Million | EUR Million | |
| Dec 31 | 2021 | 2020 | Change % |
| CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net income | 7,105 | 7,133 | Down 0.4 |
| Adjustments to reconcile net income to net cash flow provided by operating activities | |||
| Share of earnings from investments in associates and joint ventures | -305 | -112 | Deterioration 172.3 |
| Realized gains/losses (net) and impairments of investments (net) of: | |||
| Available-for-sale and heid-to-maturity investments investments in associates and joint ventures real estate held for investment loans and advances to banks and customers non-current assets and disposal groups classified as held for sale | -8,092 | -4,930 | Deterioration 64.1 |
| Other investments mainly financial assets held for trading and designated at fair value through income | 6,915 | -4,765 | Recovery |
| Depreciation and amortization | 2,525 | 2,244 | Up 12.5 |
| Loan loss provisions | 11 | 15 | Down 26.7 |
| Interest credited to policyholder accounts | 7,084 | 5,580 | Up 27.0 |
| Other non-cash income/expenses | -2,440 | 5,854 | Deterioration |
| Net change in: | |||
| Financial assets and liabilities held for trading | -5,678 | 4,190 | Deterioration |
| Reverse repurchase agreements and collateral paid for securities borrowing transactions | -1,980 | -689 | Deterioration 187.4 |
| Repurchase agreements and collateral received from securities lending transactions | -917 | 792 | Deterioration |
| Reinsurance assets | -1,385 | -2,318 | Improved 40.3 |
| Deferred acquisition costs | 2,754 | -201 | Recovery |
| Unearned premiums | 1,261 | 381 | Up 231.0 |
| Reserves for loss and loss adjustment expenses | 4,346 | 4,869 | Down 10.7 |
| Reserves for insurance and investment contracts | 13,676 | 14,702 | Down 7.0 |
| Deferred tax assets/liabilities | -358 | 341 | Deterioration |
| Other (net) | 604 | -1,035 | Recovery |
| Subtotal | 18,019 | 24,916 | Down 27.7 |
| Net cash flow provided by operating activities | 25,124 | 32,049 | Down 21.6 |
| CASH FLOW FROM INVESTING ACTIVITIES | |||
| Proceeds from the sale maturity or repayment of: | |||
| Financial assets designated at fair value through income | 4,751 | 3,689 | Up 28.8 |
| Available-for-sale investments | 178,723 | 160,053 | Up 11.7 |
| Held-to-maturity investments | 118 | 262 | Down 55.0 |
| Investments in associates and joint ventures | 942 | 869 | Up 8.4 |
| Non-current assets and disposal groups classified as held for sale | 301 | 349 | Down 13.8 |
| Real estate held for investment | 1,045 | 806 | Up 29.7 |
| Loans and advances to banks and customers (purchased loans) | 5,922 | 3,980 | Up 48.8 |
| Property and equipment | 131 | 125 | Up 4.8 |
| Subtotal | 191,932 | 170,134 | Up 12.8 |
| Net cash flow provided by operating activities | 25,124 | 32,049 | Down 21.6 |
| Net cash flow used in investing activities | -19,783 | -28,870 | Improved 31.5 |
| Net cash flow used in financing activities | -3,786 | -1,390 | Deterioration 172.4 |
| Effect of exchange rate changes on cash and cash equivalents | 216 | -758 | Recovery |
| Change in cash and cash equivalents | 1,771 | 1,031 | Up 71.8 |
| Cash and cash equivalents at beginning of period | 22,443 | 21,075 | Up 6.5 |
| Cash and cash equivalents reclassified to assets of disposal groups held for sale and disposed of in 2020 | 337 | ||
| Cash and cash equivalents at end of period | 24,214 | 22,443 | Up 7.9 |
| Payments for the purchase or origination of: | |||
| Financial assets designated at fair value through income | -5,594 | -3,807 | Deterioration 46.9 |
| Available-for-sale investments | -188,456 | -179,986 | Deterioration 4.7 |
| Held-to-maturity investments | -225 | -279 | Improved 19.4 |
| Investments in associates and joint ventures | -1,525 | -2,005 | Improved 23.9 |
| Non-current assets and disposal groups classified as held for sale | -37 | -72 | Improved 48.6 |
| Real estate held for investment | -1,563 | -2,043 | Improved 23.5 |
| Fixed assets from alternative investments | -48 | -19 | Deterioration 152.6 |
| Loans and advances to banks and customers (purchased loans) | -1,745 | -2,380 | Improved 26.7 |
| Property and equipment | -1,363 | -1,429 | Improved 4.6 |
| Subtotal | -200,557 | -192,022 | Deterioration 4.4 |
| Business combinations f note 3: | |||
| Proceeds from sale of subsidiaries net of cash disposed | 721 | ||
| Acquisitions of subsidiaries net of cash acquired | -3,172 | -857 | Deterioration 270.1 |
| Change in other loans and advances to banks and customers (originated loans) | -7,817 | -6,844 | Deterioration 14.2 |
| Other (net) | -170 | -2 | Deterioration 8,400.0 |
| Net cash flow used in investing activities | -19,783 | -28,870 | Improved 31.5 |
| CASH FLOW FROM FINANCING ACTIVITIES | |||
| Net change in liabilities to banks and customers | 1,454 | 659 | Up 120.6 |
| Proceeds from the issuance of certificated liabilities and subordinated liabilities | 4,593 | 5,719 | Down 19.7 |
| Repayments of certificated liabilities and subordinated liabilities | -6,299 | -4,615 | Deterioration 36.5 |
| Proceeds from the issuance of undated subordinated bonds classified as shareholders' equity | 2,303 | 2,272 | Up 1.4 |
| Net change in lease liabilities | -396 | -409 | Improved 3.2 |
| Transactions between equity holders | -1,034 | -644 | Deterioration 60.6 |
| Dividends paid to shareholders | -4,270 | -4,146 | Deterioration 3.0 |
| Net cash from sale or purchase of treasury shares | 2 | -67 | Recovery |
| Other (net) | -138 | -159 | Improved 13.2 |
| Net cash flow used in financing activities | -3,786 | -1,390 | Deterioration 172.4 |
12.2 Download ALLIANZ Financials Past 7 Years
| Description (December 31) | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
| Income Statement | |||||||
| Revenue per share | 296.9 | 288.34 | 278.14 | 249.87 | 41.71 | ||
| Other Revenue | (3.7 M) | 10.6 B | |||||
| EBITDA (B) | 9.2 | 9.3 | 12 | 11.1 | 11.6 | ||
| Depreciation | (307 M) | (260 M) | (196 M) | (375 M) | 1.4 B | ||
| EBIT (B) | 12.2 | 11.4 | |||||
| Interest (B) | 1.1 | 1 | |||||
| Profit before tax (B) | 11.1 | 10.4 | |||||
| Tax | (2.4 B) | (2.5 B) | (2.8 B) | (2.7 B) | 134.7 M | 134.7 M | 3.2 B |
| Net profit (B) | 6.6 | 6.8 | 7.9 | 7.5 | 3.7 | 4.1 | 4.2 |
| EPS | 15.96 | 16.48 | 18.9 | 17.43 | 16.86 | ||
| Balance Sheet | |||||||
| Equity Share Capital (B) | 80 | 80.8 | 74 | 61.2 | 42 | 42.5 | 45 |
| Retained Earnings (B) | 52.1 | ||||||
| Total Debt (B) | 32.1 | ||||||
| Total Assets (B) | 1,139.4 | 1,060 | 1,011.2 | 897.6 | 122.1 | 122.1 | 114.3 |
| Current Asset (B) | 1,120.7 | 1,044.4 | 996.4 | 883.8 | 5.6 | 5.1 | |
| Fixed Asset | 15.2 M | 15.2 M | 254.4 M | ||||
| Working Capital (B) | 1,120.7 | 1,044.4 | 996.4 | 883.8 | 5.3 | 5.1 | |
| Cash Flow | |||||||
| Operating Cash Flow (B) | 25.1 | 32 | 36.4 | 25.7 | 23.7 | ||
| Investing Cash Flow (B) | (19.8) | (28.9) | (27.7) | (19.3) | (20.4) | ||
| Financing Cash Flow (B) | (3.8) | (1.4) | (4.8) | (6.8) | (2.8) | ||
| Net Cash Flow | 1.6 B | 1.8 B | 3.9 B | (459 M) | 431 M |
SECTION 13 TOP SHAREHOLDERS
Top 1 shareholder
| Name of the Share Holder | % of Capital |
| BlackRock, Inc., New York, USA | 7.0 |
% held by Top 1 shareholder 7.0%
SECTION 14 PEER COMPARISON & RANKING OF ALV
14.1 PEER COMPARISON: ALV IN INDICES
Allianz is a constituent of the following indices.
Its market capitalisation is $80 billion and accounts for 12.5% of the combined MCap of the DivDAX (Performance) Index.
| Index Name | MCap of Index ($ b) | ALV MCap as % of Index |
| DivDAX (Performance) Index | 636 | 12.5 |
| CDAX (Performance) Index | 695 | 11.5 |
| Prime All Share (Performance) Index | 900 | 8.9 |
| DAX Index | 1,095 | 7.3 |
| L-DAX Index | 1,102 | 7.2 |
| DAX (Kursindex) Index | 1,136 | 7.0 |
| HDAX (Performance) Index | 1,403 | 5.7 |
14.2 GLOBAL PEER COMPARISON: ALV - SIZE (all figures in $)
In its Global Peer Group of 9 companies ALV is ranked ALV is ranked second (2) by Total Assets, third (3) by Revenue and fifth (5) by MCap, Net Profit.
| Name (Code) | MCap | Revenue | Net Profit | Total Assets |
| Rank of ALV | 5 | 3 | 5 | 2 |
| Allianz (ALV) | 79.7B | 125B | 6.8B | 1,164.9B |
| AIA (01299) | 114.4B | 47.5B | 7.4B | 339.9B |
| China Life Insurance - A Share (601628) | 110.9B | 127.2B | 7.6B | 725.3B |
| Ping An Insurance (Group) Company of China - A Share (601318) | 110.3B | 172.8B | 15.1B | 1,503.9B |
| Marsh & McLennan (MMC) | 81.3B | 19.8B | 3.1B | 34.4B |
| Chubb (CB) | 78.4B | 41B | 8.5B | 200.1B |
| Progressive (PGR) | 67.1B | 3.5B | 3.4B | 23.6B |
| Aon (AON) | 59.9B | 12.2B | 1.3B | 31.9B |
| MetLife (MET) | 51.1B | 71.1B | 6.4B | 759.7B |
GLOBAL PEER COMPARISON: ALV - RELATIVE VALUE INDICATORS
In value terms, comparing relative value of its shares, ALV is ranked
+ 1 out of 9 by Dividend Yield (%) [6.1]
+ 4 out of 9 by Price/Earnings per share [11.2]
+ 1 out of 9 by Price/Book value per share [1.2]
| Name (Code) | Currency Code | Last Price | Div Yld (%) | P/E | P/Book |
| Rank of ALV by value | 1 | 4 | 1 | ||
| Allianz (ALV) | EUR | 176.2 | 6.1 | 11.2 | 1.2 |
| AIA (01299) | HKD | 75 | 1.9 | 15.9 | 2.0 |
| China Life Insurance - A Share (601628) | CNY | 26.6 | 2.5 | 13.3 | 1.6 |
| Ping An Insurance (Group) Company of China - A Share (601318) | CNY | 41.2 | 5.8 | 4.1 | |
| Marsh & McLennan (MMC) | USD | 163 | 1.4 | 26.1 | |
| Chubb (CB) | USD | 187.7 | 1.8 | 9.8 | 2.0 |
| Progressive (PGR) | USD | 114.8 | 1.7 | 3.6 | |
| Aon (AON) | USD | 283.8 | 1.1 | 50.1 | |
| MetLife (MET) | USD | 62.9 | 3.1 | 8.5 |
USD 1=
0.973915 Euro (EUR); 7.85 Hong Kong Dollar (HKD); 6.768 Chinese Yuan (CNY)ChartPath:Global Peer Group - Price Performance:/home/jboss/jboss-3.2.7/server/default/deploy/BuySellSignals.war/report/Germany/Stock/PDF/Daily/chart/new/45_GlobalPeerGroup.svg
14.3 BUYSELLSIGNALS FUNDAMENTALS VALUATION RANKING:
Allianz vs Insurance sector
Out of 1,592 stocks and 17 units in the German Market, Allianz is ranked first(1) by P/Earnings, first(1) by Price/Net Tangible Assets, first(1) by Market Cap in $ and first(1) by Revenue.
| Insurance sector | ALV | ALV Rank | |
| P/Earnings | 9.04x | 11.04x | 1 |
| Price/Net Tangible Assets | 1.1x | 1.2x | 1 |
| Market Cap $ | 216.6 B | 79.7 B | 1 |
| Revenue $ | 63.4 B | 125.5 B | 1 |
| Free Cash Flow | (1.2 B) | 19.6 B | 1 |
| Net Profit $ | 3.9 B | 6.8 B | 2 |
| Premium to 52-Wk Low (%) | 14.4 | 4.8 | 2 |
| Yield (%) | 0.7 | 6.1 | 2 |
| Discount to 52-Wk High (%) | 7.7 | 20.2 | 7 |
| EBITDA Margin% | 7.3 | 7.5 | 15 |
| ROE (%) | 10.8 | 8.4 | 18 |
| ROA (%) | 0.9 | 0.6 | 19 |
Negative values are shown in brackets.
14.4 MARKET SHARE
Allianz has a position of market dominance in the Insurance sector.
Allianz vs Insurance sector [Insurance sector Total in Brackets]
Revenue of EUR122.2 billion ($125.5 billion)[49.7% of aggregate sector revenue of EUR245.7 billion; down from 51.6% in the previous year.]
Net Profit of EUR6.6 billion ($6.8 billion) [43.4% of aggregate sector net profit of EUR15.2 billion; down from 71.3% in the previous year.]
EBIT of EUR9.5 billion ($9.8 billion) [69.4% of aggregate sector EBIT of EUR13.7 billion; down from 77.1% in the previous year.]
14.5 GLOBAL RANK [out of 48,175 stocks] AND RANK OF ALLIANZ IN THE EUROPE REGION [out of 7,576 stocks]
| Description | Value | Global Rank | In Eur Region |
| MCap ($) | 79.7B | 176 | 31 |
| Total Assets ($) | 1,164.9B | 55 | 9 |
| Revenue ($) | 125B | 79 | 17 |
| Net Profit ($) | 6.8B | 201 | 43 |
| Return on Equity % | 8.4 | 16,524 | 2,759 |
| Net Profit Margin % | 5.8 | 18,059 | 2,685 |
| Price to Book | 1.2 | 14,930 | 1,948 |
| Price/Earnings | 11.2 | 9,165 | 1,307 |
| Yield % | 6.1 | 4,428 | 907 |
| PV1000 (1Year) $* | 873 | 23,894 | 3,108 |
| $* Change (1Year) % | -23.0 | 25,238 | 3,344 |
* 1 year ago EUR 1 = $ 1.19
Aug 02, 2022: EUR 1 equals $ 1.03
14.6 RANK OF ALLIANZ IN THE DAX INDEX [out of 29 stocks], IN THE GERMAN MARKET [out of 545 stocks] AND IN THE INSURANCE SECTOR [out of 8 stocks]
| Description | Value | In DAX Index | In German Market | In Insurance sector |
| MCap (EUR) | 77.6B | 5 | 5 | 1 |
| Total Assets (EUR) | 1,139.4B | 2 | 2 | 1 |
| Revenue (EUR) | 122.2B | 3 | 7 | 1 |
| Net Profit (EUR) | 6.6B | 4 | 9 | 1 |
| Return on Equity % | 8.4 | 19 | 270 | 5 |
| Net Profit Margin % | 5.8 | 17 | 223 | 2 |
| Price to Book | 1.2 | 9 | 129 | 2 |
| Price/Earnings | 11.0 | 11 | 79 | 2 |
| Yield % | 6.1 | 5 | 65 | 2 |
| PV1000 (1Year) EUR | 1,009 | 5 | 147 | 5 |
14.7 LONG-TERM FUNDAMENTAL RANKING: 4 OUT OF 5 [5 is best]
Allianz is ranked number 1 out of 35 listed insurance companies in the Germany with a market capitalization of EUR77.6 billion ($79.7 billion).
It has a moderate relative ROE of 8.4% and ROA of 0.6%.
Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest ranking is 5 and the lowest ranking is 1.
SECTION 15 CURRENCY SYNOPSIS: EURO (EUR)
15.1 % Change of EUR vs Currency Basket Period-Based
In the past year the Euro fell 13.6% against the US Dollars; in the past three years the Euro fell 7.9% against the US Dollars.
| Last | Country | 1-day % | 1-week % | 1-Year % | 3-Yrs % |
| EUR1=1.026USD | United States Of America | 0.4 | 0.5 | -13.6 | -7.9 |
| EUR1=6.941CNY | China | 1.2 | 0.3 | -9.6 | -9.6 |
| EUR1=135.569JPY | Japan | -0.6 | -3.1 | 4.0 | 11.8 |
| EUR1=1.0EUR | European Union | 0.0 | - | - | - |
| EUR1=1,340.796KRW | South Korea | 1.0 | -0.1 | -1.8 | 1.6 |
| EUR1=1.413SGD | Singapore | 0.5 | -0.5 | -12.1 | -7.4 |
| EUR1=1.618NZD | New Zealand | -0.8 | -1.0 | -4.6 | -3.8 |
| EUR1=0.836GBP | United Kingdom | -0.6 | -1.4 | -1.8 | -8.3 |
| EUR1=1.458AUD | Australia | - | -1.1 | -9.5 | -9.7 |
| EUR1=8.052HKD | Hong Kong | 0.9 | 0.1 | -12.8 | -7.6 |
| EUR1=0.974CHF | Switzerland | 0.1 | -1.4 | -9.5 | -11.9 |
| EUR1=1.314CAD | Canada | 0.5 | -0.3 | -11.0 | -10.3 |
| EUR1=10.367SEK | Sweden | -0.1 | -0.4 | 1.9 | -1.9 |
| EUR1=9.851NOK | Norway | -0.3 | -2.3 | -5.7 | 1.6 |
| EUR1=20.874MXN | Mexico | 1.2 | -0.3 | -11.3 | -1.9 |
SECTION 16 ALLIANZ PREFERRED SHARES
Preferred Series
| Symbol | Preferreds Name |
| ALVN | Allianz SE |
SECTION 17 STOCK IDENTIFIERS
ISIN: DE0008404005
PermID: 4295870171
CUSIP: D03080112
RIC: ALVG.DE
GLOSSARY
ADVT: Average Daily Volume of shares Traded
Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Current Ratio: Current Assets/Current Liabilities (times)
Dividend Yield: Dividend Per Share/Share Price (%)
EBIT Margin : Earnings Before Interest and Tax/Revenue (%)
Earnings Yield: Earnings Per Share/Share Price (%)
Income during the n years (3/2/1): Dividends received during the Period
Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods
PV1000: Present value of 1000 invested 1 year/'n' years ago
Price Close/Moving Avg Price: Latest Price/Moving Average Price
Price/Earnings: Share Price/Earnings Per Share (times)
Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)
Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index
Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.
Return on Assets: Net Profit/Total Assets (%)
Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)
TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend
TTM: Trailing 12 Months
Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period
Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.
Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.
Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.
Created by www.buysellsignals.com