ANL 34.14 Increased By ▲ 1.39 (4.24%)
ASC 15.06 Increased By ▲ 0.68 (4.73%)
ASL 25.85 Increased By ▲ 0.35 (1.37%)
AVN 95.75 Increased By ▲ 0.05 (0.05%)
BOP 9.19 Increased By ▲ 0.04 (0.44%)
BYCO 10.28 Increased By ▲ 0.30 (3.01%)
DGKC 136.80 Increased By ▲ 1.50 (1.11%)
EPCL 51.50 Increased By ▲ 0.25 (0.49%)
FCCL 24.96 Increased By ▲ 0.27 (1.09%)
FFBL 25.60 Increased By ▲ 1.10 (4.49%)
FFL 15.60 Increased By ▲ 0.18 (1.17%)
HASCOL 10.88 Increased By ▲ 0.16 (1.49%)
HUBC 87.50 Increased By ▲ 0.76 (0.88%)
HUMNL 7.14 Increased By ▲ 0.04 (0.56%)
JSCL 27.05 Increased By ▲ 0.46 (1.73%)
KAPCO 39.61 Increased By ▲ 0.41 (1.05%)
KEL 4.14 Increased By ▲ 0.03 (0.73%)
LOTCHEM 14.80 Increased By ▲ 0.08 (0.54%)
MLCF 47.30 Increased By ▲ 0.46 (0.98%)
PAEL 38.45 Increased By ▲ 1.35 (3.64%)
PIBTL 11.82 Decreased By ▼ -0.01 (-0.08%)
POWER 10.60 Increased By ▲ 0.10 (0.95%)
PPL 90.98 Decreased By ▼ -0.52 (-0.57%)
PRL 27.27 Increased By ▲ 1.45 (5.62%)
PTC 8.89 Decreased By ▼ -0.01 (-0.11%)
SILK 1.43 Increased By ▲ 0.03 (2.14%)
SNGP 43.40 Increased By ▲ 2.33 (5.67%)
TRG 149.75 Increased By ▲ 2.05 (1.39%)
UNITY 31.60 Increased By ▲ 1.12 (3.67%)
WTL 1.51 Decreased By ▼ -0.03 (-1.95%)
BR100 5,016 Increased By ▲ 30.86 (0.62%)
BR30 26,157 Increased By ▲ 324.06 (1.25%)
KSE100 46,155 Increased By ▲ 191.22 (0.42%)
KSE30 19,317 Increased By ▲ 81.04 (0.42%)

BERLIN: German insurance giant Allianz on Friday reported a drop in annual net profit for the first time since 2011, with natural disasters and the coronavirus pandemic taking their toll. Net profit came in at 6.8 billion euros in 2020, down 14 percent, the group said in a statement.

Operating profit was 10.8 billion euros, down 9.0 percent, weighed down partly by 1.3 billion euros in pandemic-related costs. The fourth quarter showed a more solid performance, with total revenues stable and operating profit up 8.2 percent. Allianz paid out 880 million euros for natural disasters, compared to 771 million euros the year before.

Total revenues at the Munich-based group decreased by 1.3 percent to 140 billion euros across the whole of 2020. In property-casualty insurance, total revenues rose slightly by 0.4 percent to 59.4 billion euros, despite declines recorded at Allianz Partners (travel insurance) and Euler Hermes (credit insurance).