Allianz: Q2 EPS in line with estimates
(CercleFinance.com) - Allianz has reported net attributable income that is down 28.
6% to 1.5 billion euros for Q2 2020, meaning EPS of 3.68 euros, a level broadly in line with analysts' expectations.
The insurance company's operating profit contracted by 18.8% to 2.6 billion euros, with revenues down 6.8% to 30.9 billion euros (-7.7% on an organic basis), mainly due to the impact of the life and health business segment.
"While financial markets have rallied in the second quarter of 2020, the economic recovery remains fragile," Allianz warned, which refrains from providing any outlook for operating profit at present, given ongoing uncertainties.
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