The provision will be booked in the financial statements for 2021, Allianz said late Thursday, resulting in a net loss attributable to shareholders of 292 million euros in the fourth quarter.
The company also announced a plan to buy back as much as 1 billion euros of its own shares and proposed increasing its dividend to 10.80 euros per share. Allianz forecast operating profit of as much as 14.4 billion euros for this year.
This article was provided by Bloomberg News.