The COVID-19 crisis has caused one of the strongest economic shocks in the financial markets. While financial markets began a recovery process in the second quarter, economic recovery is still volatile. However, thanks to its diverse business portfolio and stable financial balance, Allianz continues to successfully navigate the difficulties and reports good results for the second quarter of 2020.
“The pandemic continues to be a challenge for all industries. However, Allianz has shown incredible resilience and strong results for the first half of 2020. This makes us confident of the company's stable financial performance in the second half of the year. ", commented on the results Oliver Bethe, CEO of Allianz Group. The company's Chief Financial Officer Giulio Terzariol adds: ,,We are satisfied with the performance of life insurance and health insurance in the second quarter of 2020, which is confirmed by the strong new business margin. Even in times of great uncertainty, our good positioning continues to provide good operational performance and contribute to value creation in the medium and long term.”
The company notes a leap in the digitalization of processes and business in general, as well as the fact that it has become stronger in finding alternatives. With its 131-year history marked by many crises and difficult moments, Allianz looks confidently to the successful completion of 2020!
The full press release can be found here: www.allianz.com
