• Additional pre-tax provision of €1.9bn for Q1 22 in anticipation of settlements with major investors in the AllianzGI US-Structured-Alpha funds
• Net profit attributable to shareholders declined by 78% to €561m for Q1 22 versus Q1 21
• Net new money was an outflow of €9.0bn in Q1 22 compared to an inflow of €37.8bn in Q1 21
• Operating profit target for 2022 of €13.4bn, plus or minus €1bn confirmed
• DPS forecasts don’t look to be at risk
12 May 2022
Solid Q1 22 figures again burdened by Structured Alpha provision
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Solid Q1 22 figures again burdened by Structured Alpha provision
• Additional pre-tax provision of €1.9bn for Q1 22 in anticipation of settlements with major investors in the AllianzGI US-Structured-Alpha funds
• Net profit attributable to shareholders declined by 78% to €561m for Q1 22 versus Q1 21
• Net new money was an outflow of €9.0bn in Q1 22 compared to an inflow of €37.8bn in Q1 21
• Operating profit target for 2022 of €13.4bn, plus or minus €1bn confirmed
• DPS forecasts don’t look to be at risk