Get to know your offshore companies: ALLIANZ (ETR: ALV)

Allianz recently reported its financial results for the first quarter of 2020. The group reported an increase of 5.7% in total revenue to €42.6 billion (1Q2019: €40.3 billion). Operating profit was down by 22.2% to €2.3 billion (1Q2019: €3 billion). The  Asset Management segment reported an increase in operating profit of 18.6% to €679 million (1Q2019: €573 million) with total assets under management declining to €2.1 billion in the first quarter.

On 20 February 2020, Allianz SE had resolved on a new share buy-back program. The program started in March 2020 with an intended volume of up to €1.5 billion. The program was scheduled to be finalised by 31 December 2020.

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