Alliance with good numbers

Allianz put up with the devastating flood disaster in the summer relatively well financially. Because the life insurance and fund business also achieved record results, the Dax group earned more in the third quarter than in the pandemic summer of 2020. CEO Oliver Bäte is therefore more optimistic and now expects an operating result of around 13 billion euros. But a legal dispute in the USA still hovers over the alliance: Large investors are demanding billions from the group. CEO Bäte spoke of the strongest third quarter ever for Allianz. After the flood disaster in Germany and several neighboring countries in July, the insurer had to settle damage to its customers of more than one billion euros, said CFO Giulio Terzariol. However, Allianz had largely passed the risks on to reinsurers.

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