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Munich (dpa) - Despite the corona-related slump in profits, Allianz survived 2020 better than some stock market experts expected.
Net profit fell by 14 percent to 6.8 billion euros, as Europe's largest insurance group announced in Munich on Friday.
The company put the "negative Covid-19 effects" in the operating result at 1.3 billion euros.
The group's sales fell slightly by 1.3 percent to 140 billion euros.
Some analysts had expected larger losses, but the fourth quarter in particular went well for Allianz.
Asset management, the second pillar alongside the actual insurance business, also went well.
At the end of the year, Allianz managed a total of almost 2.4 trillion euros of its own and third-party funds, more than ever before.
Of this, 1.7 trillion were customer funds that Allianz had entrusted with almost 33 billion euros more than a year earlier.
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The target for 2021 is an operating profit of 12 billion euros plus minus one billion.
In 2020 it was 10.8 billion.
© dpa-infocom, dpa: 210219-99-505380 / 2
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