FRANKFURT -Allianz, which is working to resolve U.S. regulatory investigations right into a multibillion-dollar buying and selling debacle at its funds arm, mentioned on Thursday that web revenue fell 78% within the first quarter however confirmed its outlook for 2022 working revenue.
Web revenue was 561 million euros ($589.61 million) within the quarter, down from 2.57 billion euros a yr in the past and worse than expectations for revenue of greater than 1.9 billion euros.
The online revenue determine revealed on Thursday is extra exact and decrease than the 600 million euros it introduced a day earlier, when it disclosed it might put aside one other 1.9 billion euros to cope with its U.S. authorized points.
Allianz confirmed its outlook for the total yr, by which it expects working revenue of 13.4 billion euros, give or take 1 billion.
($1 = 0.9515 euros)
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