ALV: Continuing to deliver at a high level

Research evidence excerpt

ALV: Continuing to deliver at a high level

Allianz SE

Company description

Allianz is a leading global diversified financial services group headquartered in Munich, Germany, operating across property &

casualty insurance, life/health insurance, and asset management with a presence in over 70 countries. The company serves millions

of customers worldwide through its integrated insurance and investment management businesses, positioning it as one of the

world's largest providers in these sectors. Allianz's strategic focus encompasses digital transformation, operational efficiency, and

growth across its core business segments to drive long-term shareholder value.

Required disclosures

Non-U.S. analyst disclosure

One or more research analysts involved in the preparation of this report (i) may not be registered/qualified as research analysts

with the NYSE and/or FINRA and (ii) may not be associated persons of the RBC Capital Markets, LLC and therefore may not be

subject to FINRA Rule 2241 restrictions on communications with a subject company, public appearances and trading securities

held by a research analyst account.

Conflicts disclosures

The analyst(s) responsible for preparing this research report received compensation that is based upon various factors, including

total revenues of the member companies of RBC Capital Markets and its affiliates, a portion of which are or have been generated

by investment banking activities of the member companies of RBC Capital Markets and its affiliates.

With regard to the MAR investment recommendation requirements in relation to relevant securities, a member company of Royal

Bank of Canada, together with its affiliates, may have a net long or short financial interest in excess of 0.5% of the total issued