Allianz: strategic outlook 2022-2024
On 3 December 2021, Allianz has unveiled its strategic outlook for the period 2022-2024 and is now revising its three-year objectives upwards.
The outlook is based on five pillars:
- transforming the life and health (L/H) and asset management franchises
- strengthening the leadership position in non-life markets
- boosting growth through scalable platforms
- deepening global vertical integration of operating models
- Reinforcing capital productivity and resilience
The German group is targeting a 5 to 7% annual growth in profit per share over the next three years and a return on equity (ROE) of 13%. This ambition is supported by three levers: sustained turnover growth, improved profitability and efficient capital management.
Allianz also intends to increase its dividend by 5% each year starting 2021, with a payout ratio based on net profit.
For the period 2022-2024, the insurer plans to generate 12 billion EUR (13.5 billion USD) of excess capital through its operational plans and strategic partnerships.
Moreover, the American subsidiary Allianz Life is concluding a reinsurance agreement with subsidiaries of the Sixth Street investment fund for its 35 billion USD life portfolio. This agreement will enable the company to release 3.6 billion EUR (4.06 billion USD) of additional capital.
