Allianz SE (OTCPK:ALIZF)

$ 315.15 12.14 (4.01%) Market Cap: 118.77 Bil Enterprise Value: 138.26 Bil PE Ratio: 11.91 PB Ratio: 2.03 GF Score: 78/100

Q1 2021 Allianz SE Earnings Press Conference Transcript

May 12, 2021 / 06:30AM GMT

Release Date Price: $261.25 (+1.46%)

Transcript

Holger Klotz

[Interpreted] Good morning, ladies and gentlemen in Munich, and welcome to our telephone conference of Allianz regarding the financial results of the first quarter 2021. As usual, our CFO, Giulio Terzariol will guide you through the results. And thereafter, we have a question-and-answering session.

And I will now hand over to Giulio Terzariol.

Giulio Terzariol

Allianz SE - CFO & Member of the Management Board

[Interpreted] Thank you, Holger. And as usual, I'm very happy to present the results of Allianz for the first quarter. And let us begin with Slide #3, and you will see that we had a very good start in the year 2021. And the income rate -- the income curve is flat, but this is not surprising in view of the COVID situation. And this particularly affected the P&C line. But in Asset Management, on the other hand, we see a dynamic development.

The operating revenues are EUR 3.3 billion and is improved by 45% as compared to the previous year, and this is above our forecast. And so you know that our forecast was EUR 12 billion

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