Allianz swings to Q4 net profit, bounces back from U.S. funds debacle

Oliver Bäte, chief govt of German insurance coverage group Allianz.

Nurphoto | Nurphoto | Getty Photographs

Germany’s Allianz on Friday swung to a fourth-quarter web revenue, marking a return to the black after taking huge costs a yr earlier for a U.S. funds scandal.

The fourth quarter was helped by energy at its life and medical insurance enterprise as a result of a better funding margin, Allianz stated, whereas its asset administration division noticed decrease revenues and charges.

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This investor's fund returned 15% in a bad year for stocks. He shares his playbook and bets for 2023

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Internet revenue attributable to shareholders of two.007 billion euros ($2.13 billion) within the three months by December compares with a lack of 292 million euros a yr earlier. Analysts had anticipated a web revenue of two.034 billion euros.

“We simply run a really, superb firm,” Allianz CEO Oliver Bäte instructed CNBC on “Squawk Field Europe” Friday.

“The important thing message is the very sturdy corporations which have used Covid to organize themselves for a a lot more durable world are going to be the winners right here and there can be heaps that will not.”

Bäte additionally highlighted that the rate of interest atmosphere is “actually good” for the financial institution and that Allianz could be taking advantage of that.

The return to revenue from a yr earlier marked a return to enterprise as standard for Allianz, which has been making an attempt to revive its popularity after its U.S. funds unit was dogged with a fraud case that resulted in a $6 billion settlement with U.S. authorities in Could.

Allianz to pay some $6 billion dollars in fraud case

Bäte shared a optimistic outlook for 2023, saying that January had already seen optimistic flows into Pimco and different actively managed funds. Nonetheless, he additionally highlighted the volatility available in the market.

“There’s lots of insecurity round what policymakers will do, what politics will do, what underlying inflation will do. We’ve to watch out. The important thing factor is to essentially ensure that productiveness goes up, that we reign in on our price aspect and that we make the providers excellent,” he stated.

The Allianz CEO instructed CNBC final yr that the market atmosphere was “one of many worst … you possibly can think about.”

Shares of Allianz had been down 3.2% as European markets opened Friday, with most shares buying and selling in unfavorable territory after every week of inflation information and earnings stories.

CNBC contributed to this report.

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  315. Purchasing a verified Stripe account can be highly beneficial for smooth business transactions.
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  316. Buying a verified Stripe account helps facilitate the day-to-day process
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  317. Buying a verified Stripe account is a practical investment for budding business
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  318. Buy a verified Stripe account and enjoy the benefits of seamless online
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  319. Buying a verified Binance account may sound tempting for crypto enthusiasts, but is
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  320. If you’re looking to invest in cryptocurrencies,
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  321. If you are new to the world of cryptocurrency trading or looking to expand your
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  323. Purchasing a verified Binance account may seem like an easy shortcut, but it exposes you to numerous
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  324. Purchasing a verified Binance account allows individuals
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  325. Purchasing a verified Binance account can boost your crypto trading efficiency.
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  326. Buying a verified Binance account ensures security and
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  327. Buying a verified Binance account secures your cryptocurrency trades.
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  328. Buying a verified Binance account offers numerous advantages for crypto trading.
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  331. Investing in cryptocurrencies is becoming increasingly popular, and
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  334. Purchasing a verified Coinbase account can simplify
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  337. Invest in cryptocurrencies with ease by purchasing a verified Coinbase account.

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  338. Purchasing a verified Coinbase account is crucial
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  339. Investing in cryptocurrency is on the rise and Coinbase
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  340. Purchasing a verified Coinbase account can significantly
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  341. Buying a verified Coinbase account allows easy and secure crypto trading.

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  343. Buying a verified Coinbase account expedites your cryptocurrency journey.
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  344. Purchasing a verified Coinbase account offers easy, secure access to the
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  345. Purchasing a verified Coinbase account enables smooth, secure cryptocurrency transactions.
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  346. Purchasing a verified Coinbase account has numerous benefits, including instant trading capabilities and higher
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  347. Investing in cryptocurrencies? Choosing the right exchange is crucial.
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  348. Purchasing a verified Coinbase account is a secure and
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  349. Investing in cryptocurrencies is gaining exponential
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    Remember to safeguard any purchased account by promptly changing login credentials.

  350. Purchasing a verified Coinbase account is a great way to start
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    However, purchasing an already verified account is against Coinbase’s user agreement and considered illegal.
    It’s highly advisable to set up and verify your account personally to avoid any legal complications.
    Always prioritize safety and legality.

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    Verified Accounts have higher transaction limits and enhanced security features.
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  356. Are you planning to buy a verified Cash App account?

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  365. Buying a verified Binance account gives you access to a world-leading crypto
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    Buyer’s must ensure account legitimacy to protect their
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  375. Investing in cryptocurrencies requires a secure and reliable platform
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    Always prioritize your online safety when dealing with
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    Please remember, using purchased accounts may violate the platform’s terms of service.

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  378. Acquiring a verified Binance account holds numerous benefits such as increased withdrawal
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    This is an efficient approach towards secure, uninterrupted crypto exchange on the world’s largest platform,
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  379. Investing in cryptocurrencies has become increasingly popular, and Binance is
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  381. Investing in cryptocurrencies has become easier
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    ease in performing transactions, ensuring a seamless trading experience.
    Binance is a reputable platform, making a verified account a worthwhile investment.
    So, buying a verified Binance account is a step towards successful cryptocurrency trading.

  383. Buying a verified Coinbase account simplifies the
    cryptocurrency trading process. Verification adds security, ensuring
    only the account owner can access their portfolio. It also increases buy/sell limits and allows immediate trading.
    Purchasing a verified Coinbase account eliminates the
    wait, offering instant trading benefits, and peace of mind.

  384. Buying a verified Coinbase account is crucial for a smooth crypto trading experience.
    The process includes providing personal information and proof of identity.
    Verification maintains the integrity of the transactions but also ensures your
    security. It might be tempting to buy an already verified account, but
    that compromises your data safety. Moreover, it’s against Coinbase’s
    user agreement. Instead invest time in setting up and verifying your account.

  385. Purchasing a verified Skrill account can significantly streamline online
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    This e-commerce platform ensures that your information and funds
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    Skrill has acknowledged and approved your account details, enhancing your credibility.
    Therefore, acquiring a verified account is a wise investment.
    It promotes ease of transactions, increases your limits,
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  386. Purchasing a verified Paypal account can offer fast transactions & global business operations.
    It’s critical to ensure that accounts are legally
    acquired, fully verified, and secure. Reliable sources offer benefits like ID proof, address proof, and
    card confirmation. However, beware of scams, always deal with reputable sellers,
    and regularly monitor your account to prevent potential security issues.

    Remember, verified Paypal accounts can open up global e-commerce opportunities conveniently
    and securely.

  387. Purchasing a verified PayPal account simplifies online transactions,
    enhancing security and credibility. Accounts come with
    various features, such as transaction history and personal information, making it
    easier for users to manage online purchases. However, it’s important to
    note that buying pre-verified PayPal accounts can involve potential risks and
    breaches in PayPal’s user terms. To maintain ethical online practices, it’s always recommended to verify one’s own PayPal account rather than purchasing a pre-verified
    one. This implies a need for one to link their PayPal account to bank accounts, credit cards, or provide additional documentation for
    verification by the PayPal team, ensuring a safe, secure transaction environment.

  388. Buying a verified Paypal account can be an enticing proposition for many due to its numerous benefits.
    Firstly, it eases transactions globally with its efficient, secure payment structure.
    It eliminates the hassle of providing identification or bank confirmation every time a transaction is made.
    However, remember it’s essential to deal with reputable sellers when buying such accounts.
    Ensure the seller’s credibility to avoid falling into cyber fraud traps.

    Ultimately, a verified PayPal account is a worthwhile investment for effortless international transactions, but caution is
    imperative.

  389. Purchasing a verified 2Checkout account can significantly simplify
    your online transactions. 2Checkout, a leading global payment platform, fosters secure online purchases in different currencies & countries.
    A verified account provides increased trust, supporting seamless transactions.
    It eliminates potentially long verification periods, offering instant
    access to all 2Checkout’s features. Weigh up the initial investment against the convenience and potential business growth before making your decision.

  390. A verified 2Checkout account can be a gamechanger for your online business, offering a simplified avenue for processing digital payments.
    To purchase, search for reputable online providers. Prioritize
    providers who offer after-sales technical support, account setup help, and reasonable pricing.
    Review each offer carefully, ensuring it includes all essential features.
    Always remember to secure your purchased account with strong, unique passwords for safety.

    By investing in a verified 2Checkout account, you’re choosing to streamline operations and create
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  391. Buying a verified 2Checkout account is a valuable investment for your online business.
    Being verified by 2Checkout means credibility and
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    Additionally, 2Checkout offers global payment solutions, allowing you to cater to international customers hassle-free.
    The verification process may seem time-consuming and challenging, but buying a verified account streamlines this process
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    credibility, scalability, and global reach.

  392. Purchasing a verified Bitpay account not only simplifies cryptocurrency transactions but also enhances security.
    Bitpay, a trusted platform, ensures your investments are safe.
    A verified account offers features like lower transaction fees, priority services and extended limits.

    Trust your cryptos with Bitpay.

  393. Purchasing a verified Bitpay account enhances your cryptocurrency transaction security.
    This verified platform allows you to safely buy, sell, store and spend bitcoin effortlessly while ensuring user
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  394. Purchasing a verified Neteller account is a wise choice for carrying out secure online transactions.
    Neteller offers an instantaneous, efficient method of transferring
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  395. Purchasing a verified Neteller account avails seamless global
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    Purchase one for convenience and efficient online payments.

  396. Buying a verified Neteller account enhances security and increases
    transaction limits. It grants access to Neteller’s numerous services including online payments, money transfers, and crypto trading.
    The verification process is comprehensive, however, you can buy a pre-verified
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    Always choose a reputable source to avoid scams and violations.
    With a verified Neteller account, enjoy swift and secure online financial transactions.

  397. Acquiring a verified Coinpayments account is an excellent
    way to ensure smooth cryptocurrency transactions. The process
    is pretty straightforward, and it offers multiple benefits.
    A verified account not only gives you access to a host of cryptocurrencies (including Bitcoin, Ethereum, and Litecoin), but it also elevates your credibility among other users in the
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    With a verified Coinpayments account, you are no longer just
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  398. Purchasing a verified CoinPayments account is an asset for
    any crypto investor or business. This allows seamless transactions using over 1,270
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    access to features like auto coin conversion, GAP600 instant confirmations,
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  399. Purchasing a verified CoinPayments account can revolutionize your cryptocurrency transaction experience.
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    A verified account gives you access to over 1,300 cryptocurrencies, allowing easy and direct transactions
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    Along with the convenience, having a validated CoinPayments account also instills a level
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  400. Are you seeking swift, safe, and economically friendly
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    Moreover, it eliminates the need for excessive documentation and long verification processes.

    This would be a worthy investment for businesses and individuals
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  401. Purchasing a verified Wise account can be highly beneficial.
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    Operate globally without worrying about hidden charges
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  402. Having a verified Wise account provides immense advantages
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    Purchasing verification fosters trust, increasing your transaction limits and heightening account security.
    The process is easy and involves submitting required documents digitally.
    Investing in a verified Wise account is a wise decision for hassle-free cross-border transactions.
    Choose Wise and enjoy seamless financial exchanges.

  403. Opting to buy a verified Binance account is beneficial for various reasons, particularly for
    those looking to start trading immediately. Verification on Binance typically requires considerable
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    Remember, while buying a verified Binance account expedites your entry into the trading world,
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  404. Buying a verified Binance account is a great move for anyone interested
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    Binance is one of the largest and most reliable crypto exchanges globally, known for
    its diversification options and sophisticated features.
    Having a verified account allows you to trade large amounts of cryptocurrency, enables faster transactions, and delivers a broader
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  405. Purchasing a verified Binance account offers numerous advantages such as instant trading,
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    It’s a convenient solution for hassle-free cryptocurrency trading!

  406. Acquiring a verified Blockchain.com account offers numerous benefits, enhancing your crypto trading experience.
    This platform ensures top-notch security with its robust verification process, preventing fraudulent activities.
    It provides you access to an efficient and user-friendly interface to make
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    Despite the process seeming complex, acquiring a Blockchain.com
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  407. Looking to secure your digital transactions? Opt for a verified Blockchain.com account.
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  409. If you’re looking to trade cryptocurrency on Bybit, it’s wise to get a verified
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  410. Buying a verified Crypto.com account has become
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