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 2023 Allianz SE Earnings Press Conference Transcript

May 12, 2023 / 09:00AM GMT

Release Date Price: $229

Transcript

Operator

Good morning, and welcome to Allianz's First Quarter Results Web Audio Conference. The conference today is scheduled to last up to 60 minutes. As usual, our CFO, Giulio Terzariol, will guide you through the quarterly results, and we'll then take your questions. I hereby hand over to Giulio, please?

Giulio Terzariol

Allianz SE - CFO & Member of the Management Board

Thank you, Holger, and good morning to everybody. We have today a new born baby, which is called IFRS 9 and 17. So actually, two babies if we want.

And now I'm going to guide you first into the numbers of 2022 compared to based on the new system compared to the old system. That's a way to get familiar with the new framework, and then we're going to go into the numbers for the first quarter, which are very good, as you're going to see in a moment.

We start at Page 5. From the comparison -- perfect. Page 5 on the comparison of the old numbers with the new accounting standards for 2022 and we are focusing first on the operating profit. You see that the operating profit according

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