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Allianz wants to redistribute three quarters of profit to shareholders


Published on 2024-12-09 16:00:47 - Reuters
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  • Germany's Allianz said on Monday it plans to distribute at least three-quarters of its net profit to shareholders via dividends and share buybacks over the next three years.

Allianz, Europe's largest insurer, plans to redistribute approximately three-quarters of its 2024 profit to shareholders through dividends and share buybacks, as announced by CEO Oliver Baete at the company's capital markets day. This strategy aims to enhance shareholder returns amidst a backdrop of improving financial performance, with Allianz reporting a 10% increase in third-quarter net profit to 2.027 billion euros. The company also raised its full-year profit target for 2023 to around 12.6 billion euros, up from a previous forecast of 12.4 billion euros. Additionally, Allianz is focusing on operational efficiency, targeting a cost reduction of 400 million euros by 2024, and is exploring growth opportunities in asset management and insurance, particularly in the U.S. market.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/allianz-wants-redistribute-three-quarters-profit-shareholders-2024-12-09/ ]