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Investor Relations Release Allianz ⑪ Munich , February 19 , 2021 oliver.schmidt@allianz.com reinhard.lahusen@allianz.com christian.lamprecht@allianz.com +49 89 3800 3963 +49 89 3800 17224 +49 89 3800 3892 investor.relations@allianz.com www.allianz.com/investor-relations Allianz delivers a strong finish to 2020 • Total revenues decreased by 1.3 percent to 140 billion euros in 2020 • 2020 operating profit of 10.8 billion euros incl . negative COVID - 19 impact of 1.3 billion euros • 2020 net income attributable to shareholders down 14.0 percent to 6.8 billion euros • Strong Solvency II capitalization ratio of 207 percent ¹ at the end of 2020 • Board of Management proposes a dividend at prior - year level , 9.60 euros per share • 4Q 2020 total revenues stable year - on - year , 4Q 2020 operating profit up 8.2 percent ; 4Q 2020 net income attributable to shareholders down 2.2 percent • 2021 operating profit target of 12.0 billion euros , plus or minus 1 billion euros . Management Summary : Resilient performance in an unprecedented year In the face of an extremely challenging environment in 2020 , Allianz demonstrated resilience to an unprecedented health crisis and prolonged low interest rates . The financial performance in the fiscal year 2020 has been remarkably robust across all business segments , though the COVID - 19 pandemic left its mark on the financial results , especially in the Property - Casualty commercial lines . Despite these major global challenges , Allianz completed its fiscal year with a strong fourth quarter . Internal revenue growth , which adjusts for currency and consolidation effects , amounted to -1.8 percent in 2020 , mostly driven by our Life / Health business segment . Total revenues declined 1.3 percent to 140.5 ( 2019 : 142.4 ) billion euros and operating profit decreased 9.3 percent to 10.8 ( 11.9 ) billion euros , mostly due to the adverse impacts from COVID - 19 amounting to approximately 1.3 billion euros . In our Property - Casualty business segment , operating profit fell due to COVID - 19 - related losses , lower run - off and a lower operating investment result . In our Life / Health business segment , operating profit decreased but still remained on a strong level supported by a resilient investment margin . The decline was mainly due to a positive prior - year impact in the United States and the disposal of Allianz Popular S.L. in Spain . Our Asset Management business segment , on the other hand , registered operating profit growth from higher average AuM and continued cautious cost management . Net income attributable to shareholders decreased 14.0 percent to 6.8 ( 7.9 ) billion euros due to the lower operating profit and non - operating result . 1 Excluding the application of transitional measures for technical provisions .