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

Allianz reported its financial results for the first quarter of 2021 on 15 May 2021. The company had an excellent start to 2021 and continued to navigate the impact of the ongoing pandemic successfully. The group reported a slight decrease of 2.6% in total revenue to €41.4 billion (1Q2020: €42.6 billion). The group saw strong performance across all its business segments, and as a result, operating profit increased significantly by 44.8% to €3.3 billion (1Q2020: €2.3 billion).

Although the uncertainty around the pandemic is still not over, Allianz is well positioned to resume its share buyback program announced on 20 February 2020.

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