Allianz Se · XETR:ALV
Allianz — Investor Day (2021)
9 slides from Allianz's investor day presentation, 2021
Slide 1: Key financial targets 2024
Key financial targets 2024 Capital Markets Day 2021 Allianz Investor Relations App Apple App Store Google Play Store
Slide 2: Attractive financial targets 2021 - 2024
SIMPLICITY AT SCALE Attractive financial targets1 2021 - 2024 … 5-7% 13% plus 180% plus EPS CAGR RoE SII target level © Copyright Allianz 1) Targets are before IFRS 9/17 accounting changes 2
Slide 3: … and confident dividend policy
SIMPLICITY AT SCALE … and confident dividend policy Solvency II ratio1 Dividend policy2 DPS the higher of Minimum DPS (EUR) Target level 50% payout ratio3 180% Comfort level or 11.7 150% 11.1 previous year’s DPS +5% 10.6 10.1 Discretion level 9.6 Flexible payout of excess © Copyright Allianz Dividen
Slide 4: Sustainable EPS growth
SIMPLICITY AT SCALE Sustainable EPS growth EPS1 EUR 2021 - 2024 CAGR ~25 ~21 17.4 CAGR Operating profit ~4% 14.6 5-7% 2021 - 24 ~2% © Copyright Allianz Capital management mid-point 1) Adjusted for extraordinary and volatile items and IFRS 9/17 accounting changes 4
Slide 5: All segments drive operating profit growth
SIMPLICITY AT SCALE All segments drive operating profit growth Operating profit1 EUR bn 2021e 2024 CAGR ≥ 14.5bn target ~13bn P/C ~5.6 ~6.6 ~6% CAGR L/H ~4.9 ~5.3 ~3% ~4% AM ~3.2 ~3.7 ~5% © Copyright Allianz Corp ~-0.7 ~-0.8 target 1) Targets are before IFRS 9/17 accounting changes 5
Slide 6: Earnings power = balance sheet strength
SIMPLICITY AT SCALE Earnings power = balance sheet strength Σ 2022e - 2024e EUR bn ~30bn Plus 2bn additional sub-debt capacity available at constant leverage ~-4bn ~12bn ~-14bn ~9bn ~-3bn Ø SII capital ~10%-p generation p.a.2 © Copyright Allianz Organic Organic Dividends Organic Non-cash Organic own
Slide 7: Appendix
SIMPLICITY AT SCALE Appendix © Copyright Allianz 7
Slide 8: 5yr track record
APPENDIX 5yr track record Operating profit 2020: EUR 10.8bn Investment portfolio 2020: EUR 790bn By segments1 By regions: Asset allocation Debt instruments by rating6 P/C Insurance 38% Germany 28% Debt instruments 86% AAA 19% L/H Insurance 38% W & S Europe 32% • Government 38% AA 25% • Covered 10% A
Slide 9: Disclaimer
APPENDIX Disclaimer Cautionary note regarding forward-looking statements This document includes forward-looking statements, such as prospects or levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency expectations, that are based on management's current views and exch