Ladies and gentlemen, as the Chairman of the Supervisory Board, I hereby open the Annual General Meeting 2020 of Allianz SE. On behalf of the Supervisory Boards and the Board of Management, I would like to welcome all the shareholders following us today on the Internet. The Board of Management and the Supervisory Board together decided to seize the opportunity created by the regulator for the extraordinary situation this year to perform an AGM without the personal presence of shareholders. And this gives us the opportunity to stick to the previously announced date of this year's AGM and you can therefore also decide about our dividend proposal. We all understand that with this type of AGM, there can be no true discussion.
And that's why we've decided to take out 2 items of the agenda compared to the initial Supervisory Board. We've postponed these 2 agenda items to next year's AGM, because we don't want to leave these topics aside without any discussion with you. With this, we still stick to the legal framework for the approval of compensation systems through the AGM. Ladies and gentlemen, let me now just briefly explain some organizational remarks regarding today's agenda. First of all, I can state that the AGM was invoked on the 9th April 2020 in due time and form using a brevant convocation period according to law to mitigate the impact of the COVID-nineteen pandemic in civil insolvency and criminal law.
So the invocation was published in the electronic federal cassette. The minutes of today's meeting will be taken by notary public, Doctor. Tim Mangute, who is with us here in the room. For our shareholders, we will broadcast this AGM in its entirety on the Internet. This transmission, this broadcast has been offered by Allianz already for quite a few years.
My initial remarks and the speech of the CEO will also be broadcast live on the Internet to the general public and will be made available as a recording following the AGM on our website. Shareholders registered to today's AGM had the opportunity until day before yesterday to enter their questions through our online service. The Board of Management will answer these questions on its own discretion when dealing with the agenda items and following the regulations of the law. Voting rights in today's virtual AGM can only be executed through absentee votes or by appointing proxies that which were appointed by the company. Your absentee votes or the instructions to the proxies of the company can be changed through the online service until the beginning of the ballots.
I will remind you of that shortly before the beginning of the ballots, but I would ask you to do so in due time because there can be time delays on the live stream. The assembly room is the auditorium of Allianz SE room Munich here at Koniggenstrasse 28 in 80,802 Munich. The details about the voting process, I will explain to you following the answering of the questions by the Board of Management. If you as shareholders want to exercise your voting rights through absentee ballot or by appointing a proxy, you will also have the opportunity to enter your objections against resolutions of the AGM through our online service. Please note that entering objections will only be able until the end of today's AGM, not following it.
For this, in the online service, you will find a button which you can enter your objection. If you press this button, you can then enter the text of your objection. The objection will then be received through a mailbox, which is directly administered by the note republic and will therefore be sent directly to the note republic. In order to have an orderly sequence of this AGM, I would ask you not to wait till the very last moment with any objections because as I've mentioned before, there could be technical delays on the live stream. All the documents and reports required by law for the AGM were published on the website of LENS SE under Investor Relations AGM in the document center.
You can access these documents also on the online service and we also have the documents present here on-site. The list of participants as required will be presented here in the meeting. And as usual, I will let you know about the attendance later on. Our shareholders also have the opportunity to view information about attendance in our on the online service. As the Chairman of this meeting, I would also like to announce that recordings of the online broadcast of our AGM are not permitted.
I would ask you to note that this is an AGM and such a meeting for our shareholders, which is not meant for the Brown public. So much for the organizational remarks. Ladies and gentlemen, not all the members of the Supervisory Board and the Board of Management can be present here in the room today. Against the backdrop of continued restrictions and to minimize health risks of the Supervisory Board, only myself and Mr. Heine are present and of the Board of Management in addition to Mr.
Beate, we have Ms. Wagner and the gentlemen Terza Riol, Doctor. Tavinga and Doctor. Rulla. Mr.
Heine was appointed by the standing committee for this year's AGM as my deputy should I be incapacitated during this Annual General Meeting. All the members of the Board of Management and Supervisory Board who cannot be present today follow the AGM through our online service. Before we enter into the agenda, I would like to inform you about changes on the Board of Management and Supervisory Board of Alliance SE since our last AGM. There were 2 changes on the Board of Management since May 2019 that have happened. On the 31 December 2019, Doctor.
Helia Jung left the Board of Management and retired. Ms. Jung actively played a role in Allianz for more than 26 years, 8 years of that on the Board of Management of Allianzec. She was responsible for participations and takeovers and has made important contributions in a large number of complex transactions to name but a few, for example, the purchase of PIMCO or the sale of the participation in Dresdabank. Just as valuable for Allianz were her work as head of the control functions, the building of our data protection department and the further development of our HR department.
The supervisory board explicitly thanked Doctor. Yong for her successful work and she will continue to support us with her expertise and abilities as a member of supervisory boards of some of our OEs. On the 31st March this year, Doctor. Axel Theiss left the Board of Management on the occasion of his 62nd birthday. Doctor.
Heis for more than 33 years worked for Allianz, the last 5 years of that as a member of the Board of Allianz SE. With his extraordinary skills and experience in the Property and Casualties business, Doctor. Theis was a driving force in this segment and paid a contribute a sizable contribution to the global setup of the business strategy of the Allianz Group. On the Board of Management of Allianz SE, he was responsible for the insurance business in the German speaking countries and in Eastern Europe. The Supervisory Board also thanked Doctor.
Thijs Cordelli for his long standing and successful work for Allianz. The Supervisory Board appointed as new members of the Board of Management Ms. Renate Wagner with effect of the 1st January 2020 and Doctor. Klaus Peter Ruhle with effect of the 1st April 2020. Ms.
Badner, who has worked since the beginning of 2013 for Allianz and has been responsible and was responsible as the regional CEO for a life health business in the region Asia Pacific will take over the responsibilities on the Board of Management of Doctor. Young. Doctor. Ruhle has worked since 1996 for the Allianz Group and after his work as a CEO in Switzerland and Italy, he lastly was responsible as the CEO of Allianz Germany AG for the German insurance business. Doctor.
Ruhler will take over the responsibilities of Doctor. Theis. And Ms. Wagner, I would now kindly ask you to present yourself to the shareholders. Thank you very much, Mr.
Diekmann. Dear shareholders, ladies and gentlemen, it gives me great pleasure to present myself personally today as a member of the Allianz Support of Management. My name is Serenade Wagner. I'm 45 years of age. I studied mathematics and have worked since 2013 for Allianz.
Before I joined Allianz, I'd already worked in the insurance and financial sector amongst others as a risk analysis analyst for West Deutsche Landersbank as an advisor for the auditor company KPMG and if many head functions at Zurich Insurance Company in Switzerland. In the year 2013, I first took over the heading of the office of the of our then CFO followed by other functions at the Allianz SE. In 2015, I then went to Singapore as the regional financial head and head of the life and Health Insurance for the Asian room. Later on, I took over the position of the CEO in this region. After 4 years in Asia, I returned as the head of the HR department of Alliance E here in Germany.
Since the 1st January of this year, as a member of the board, I've been responsible in addition to HR also for the area mergers and acquisitions or M and A, legal compliance and data protection. When it comes to my private life, I'm married and currently like to thank you for your trust and I will do everything that's my power to bring ahead your alliance together with my colleagues on the Board of Management. Thank you very much. Thank you, Doctor. Wagner.
And now I would ask Doctor. Ruhle to also introduce himself. Mr. Diekmann, dear shareholders and shareholder representatives, dear colleagues, I'm delighted and would like to thank you for the opportunity to present myself here at this virtual AGM of Allianzus ES, new member of the Board. My name is Claus Peter Ruhler.
I'm 55 years old at NACVIL with Allianz since 1996. Following my law studies and an MBA, I started as an assistant of the Chairman of the Board of the Department for Northern Westphalia in Cologne, where I received experience in guiding positions in sales positions for bank distribution and other recent in underwriting in P&C from 2003 on, I headed to the office of the CEO. Then I switched to direction Southern Europe and the neighboring countries, Austria and Switzerland first as the head of the business department, Insurance Europe 1, which is responsible for this region and then as CEO of Allianz Italy. Then I had a 3 OEs of Allianz from 20 12 to 2013 Allianz Swiss from 2014 to 2017 Allianz Italy and since the year 2018 I've lived here in Munich as the CEO of Allianz Germany AG here in Munich together with my wife, my 3 daughters and my son. For 5 weeks now, I've been a member of the Board of Alliance SE and I'm responsible in my new function for the insurance business in the German speaking countries in Central and Eastern Europe.
For the trust that you've brought to me, I would like to thank the Supervisory Board quarterly just as well as you, dear shareholders. I've taken over this position in a new in a time in which the world is in an unprecedented crisis. And with all my force together with my colleagues on the Board of Management, we will do our utmost to see Allianzgon in a strengthened way through this phase and to continue to be successful in the future? Yes, Ms. Wagner, Doctor.
Ruhle, the supervisor board, I feel sorry that you have to start in such a difficult time, but nevertheless, we're glad about your appointment and we wish you and your colleagues the best of success in dealing with this crisis and going through the change processes that Allianz is in right now. To keep the number of people present in this room as low as possible, Doctor. Ruhle will leave us now again. So thank you and all the best to you. I would also like to inform you that the supervisory board has extended the board terms of Jackie Hunt, Ms.
Hunter and Doctor. Tallinger by 3 5 years respectively. There have been no changes in the composition of the Supervisory Board since our last AGM in May 2019. Ladies and gentlemen, at this point, I would like to announce our attendance right now, 44.24 percent of the capital stock are present in this AGM that is we have proxies given to the proxies of the company, which are represented by 176,700 and 53,896 shares of that is amounts to an intensity of 42.37 percent of the capital stock. In addition to this, we have absentee votes, which were handed in for another 7,792,803 shares.
And the approved consolidated financial statements as of December 31, 2019 and of the management reports for Allianz SE and for the group as well as the report of the Supervisory Board for Vestigia 2019 and the other reports by Board of Management and Supervisory Boards. Let me first present to you the financial statement documents. The financial statements of Allianz SE and the group as well as the accordion management reports were audited by PricewaterhouseCoopers, Wirtschaftswifungsgesellschaft and deemed in good order. The auditors issued unqualified audit opinions for both reports. The Board of Management and the auditors presented the financial statement documents both to the audit committee as well as to the plenary session of the Supervisory Board and explained them in detail.
The Supervisory Board approved of the financial statements after thorough examination and the annual financial statements of LNSSE are thus adopted. This takes me to the report of the Supervisory Board. The plenary session the plenary of the Supervisory Board met for 6 sessions in the fiscal year 2019. In addition, there were a total of 18 meetings of the Supervisory Board Committees. You will find a detailed explanation of the work of the Supervisory Board and the committees in the group report on pages 4 and following.
Let me just present some of the focal points of our work. In all Supervisory Board meetings, the Board of Management explained in detail the business situation in the individual segments and regions and also explained on a regular basis the adequacy of our capital base and of the solvency ratio. A special focus of our supervisory board work was put on the business and risk strategy of the Board of Management. In this, the supervisory board and its committees dealt intensively with the investment strategy and the life insurance against the backdrop of our low interest environment, just as one lands with IT strategy, IT security and the handling of customer data. Other topics comprise the Allianz custom model and in close connection with this, the start or the launch of our European direct insurer Allianz Direct just as well as the strategy of the Allianz Group in China where Allianz as the first foreign insurance company received an approval for a holding license.
In addition to this, we discussed together with the Board of Management the strategic developments in the segment asset management and in global health insurance business and we also talked about capital measures like, for example, share buybacks. In addition to this, the Board of Management gave us a regular overview about their activities in the field of participations and takeovers, about compliance issues and about the treatment of ESG topics, ESG being the abbreviation for environment, social and good governance topics, topics that the Allianz has dealt with for quite some time proactively. And you can read details about this in the sustainability report, which was published last week by the Board of Management. Let me just quickly talk about the compensation system of the Board of Management and the Supervisory Board. You can find detailed explanations on this in the compensation report on pages 23 and following in the management report of the group.
The compensation system for the Board of Management had been thoroughly revised with the fact of the 1st January 2019 and we presented it to the AGM last year to for approval, which it found with a large majority of 92.11%. The existing compensation system has remained basically unchanged compared to the version proposed last year. And let me just remind you that for simplification, we stuck to 3 compensation elements, which means that in addition to the basic compensation, we only have 2 variable components left, a short term variable component in the form of an annual bonus and a long term variable compensation, which is share based. When looking into the compensation report, you will realize that we further increased our transparency in presenting compensation significantly. You will also realize that the Supervisory Board and its assessment of the individual contribution factor for the assessment of the annual bonus of the individual board members has taken the leeway it has regarding this factor to a large extent.
In order for a compensation system for the Board of Management to be aligned to the regulations of the new German corporate governance code in its version of the 16th December 2019, the Supervisory Board has taken the following corrections over the course of last year. First of all, we've eliminated completely the special severance payment regulation in case of a change of control. And secondly, in alignment with the new code, we've introduced a regulation that in case of contractual restraint and competition, a severance payout payment that might happen if the term of office on the Board of Management ends early on that this has to be calculated against any compensation for non competition. And these corrections haven't been taken for the future, but already implemented in the existing contracts of the board members. In addition to this, the Supervisory Board has included a new sustainability goal into the goals of the Board of Management, which is measured against the progress in reducing the CO2 emissions.
The Supervisory Board deems the compensation system as fair and adequate in internal and external comparison. Compensation of the Supervisory Board has remained unchanged compared to the previous year and is a pure fixed compensation. Memberships and committees then of course leads to different compensation. As announced at the beginning, we will present these compensation systems for the Board of Management and Supervisory Board for your approval in next year's AGM, dear shareholders. Part of the work of the Supervisory Board is also to take care of standards of good governance and you can find details about the development of corporate governance in the Allianz Group in our declaration, the declaration of the company management and in the corporate governance report, which you will find in the group management report from page 12 onwards.
The Board of Management and the Supervisory Board have signed a declaration of conformity to the recommendations of the German corporate governance code in December 2019 and have published this declaration to the shareholders on the website of the company. In summary, we can state that Allianz has followed all the recommendations of the code in its version of the 7th February 2017 and has also followed all the suggestions. I know already announced that we've adapted the compensation of the Board of Management to also follow the rules of the new code. Ladies and gentlemen, Allianz in the business year 2019 again posted a very good results. Financial goals were reached in all business segments and our capital strength remained on a very high level.
Of course, the Supervisory Board in the ongoing business year 2020 has held intensively together with the Board of Management and discussed the topic of COVID-nineteen. Since the beginning of the ongoing business year 2020 alone, there have been 4 meetings of the supervisor board in which we also discussed the effects of the pandemic onto the economy as a whole and specifically onto Allianz. The Board of Management in this connection reported on the maintaining of the business operations, the IT security and stability and the precautions taken to protect our employees. The employee representatives on the Supervisory Board also confirmed from their perspective that our management has taken a prudent approach in this crisis. Other topics were the effects of the current situation on to the AGM and our dividend payment.
As the rules for an SE according to today's situation require that an AGM has to be held within 6 months after the end of the business year. We didn't have any other choice than seizing this newly created possibility of a virtual AGM without shareholders present. When dealing with the topic of dividend payments, the supervisory board discussed with the Board of Management about the regulatory recommendations to pay out dividends for the business year 2019 only if the overall situation of the company allows that against the current backdrop or gives the backdrop of the current challenges. After detailed discussions about the solvency and liquidity situation of Allianz off against increased stress scenarios, the Supervisory Board once again assessed the dividend proposal and confirmed it. We are convinced that Allianz also under these worsened circumstances, Allianz is still able to pay out the dividend that was generated in the business year 2019.
In this decision, we've taken in the both the global discussion about the role of the insurance industry as well as in this pandemic situation as well as the reduction of our profit forecast for the business year 2020 on the 30th April. I would like to seize this opportunity to thank all employers and the whole Allianz Group for their extraordinary and tireless efforts, not just in the past year, but especially in these difficult days weeks. The Board of Management and the employees, the whole team Allianz proves on a daily basis that it can work on in a crisis and has taken a cautious approach to the customer needs. So much for the report of the Supervisory Board and now I would like to ask the CEO, Mr. Olivier Beate for his report.
Yes. Thank you very much, Diekmann. Good morning, ladies and gentlemen. Dear shareholders, I would also like to cordially welcome you to our first virtual AGM. This is an extraordinary AGM, and we're living in extraordinary times and in an extraordinary situation.
For the very first time ever since I took over this office, I am not able to speak to you directly. However, your and our all health must be given priority in this situation. We are glad that the legislators have given us the possibility of a virtual AGM at short notice. Thus, we can stick to the originally envisioned date without endangering your health. In that, it was important for us that you can still exercise your right to vote and ask questions.
So we offer you as much normal AGM as is possible in this situation. Particularly, we're in a position through this virtual meeting to pay out the proposed dividend of €9.60 per share in time and in full. So you can rely on your alliance also in the current crisis situation. In many conversations with shareholders, we learned this planning security is very important for all of you. Even during this global crisis, we can pay out the proposed dividend because we conducted our business in a very solid way over the last couple of years.
We're financially strong, and it is our goal always keeping an eye on further developments that we can also hold the dividend for the next year and for the coming years or even increase it. This is no coincidence, but it's the result of hard work over the last couple of years up until today. In the meantime, our operations are continuing for the most part unimpeded. We were technologically well prepared. Some 90% of our global employees work from home and that works flawlessly.
In particular, the colleagues of Alliance Technology, our house internal IT service renderers do an excellent job. I personally am thrilled by the commitment of our 147,000 employees. Even from home, they're always there for our clients and the same goes for our sales partners. In the crisis, we're all doing more than usually. The commitment is high.
The loyalty of our colleagues is overwhelming. From a lot of personal feedback to me personally, I've heard a new pride in our company, a new pride in what Alliance means to our clients. Our teams have interiorized our company in purpose. We secure your future that drives us all, particularly now. Let me give you a couple of current examples that show what we do for our clients specifically.
For instance, together with politics, we work on helping small and medium sized companies to survive this financially, our credit insurer, Euler Hermes, is very closely involved in that. Contribute to the solidarity funds of the French government for small companies and freelancers and Alliance Partners helps marooned holidaymakers to come home safely. Our doctors help COVID-nineteen patients very often in their spare time. In the German travel health insurance and in the Turkish health insurance, we have increased insurance coverage also to COVID-nineteen patients now. In German, with the initiative strong through the crisis, we offer help quickly and free in case of psychological burdens via hotline and that not only for Alliance clients.
Alliance Austria have a similar offer via a psychological chat forum. Alliance France finances an online COVID-nineteen test that has been developed by a startup together with the doctors at the Pasteur Institute. And many alliance associated companies offer telemedicine consulting, thus on the telephone or online can talk to a physician. In many countries, we've been donating face masks to medical institutions. And in Germany, we offer free of charge casualty insurance for children who are at home ever since who have been at home ever since the schools have been closed.
And these are but a few examples, ladies and gentlemen. A heartfelt thank you to the colleagues in these departments. You're doing a great job. And this from your writing desk at home more often than not with kids at home that you also have to look after. What we cannot do, however, ladies and gentlemen, is insurance coverage for which no premium has been paid.
That would basically rob the base rob our industry off its basis, it would rob us of the financial basis that we need in covering lots of day to day risks. That is our role basically. There have been lots of discussions about possibilities and limits of insurance, systematic company closures. Maybe you followed that in the media. In most cases, pandemics as a reason for state ordered company closures are not insurance covered, and that is something that many clients did not know about.
This discussion shows us why it is so important that our products are simple and intuitive to understand and that the performance spectrum is absolutely clear for the clients when upon conclusion of contract. This is also proof for how right and customer friendly our strategy, SimplicityWins is. Dear shareholders, let me now come to fiscal year 2019, which is the purpose of this Annual General Meeting, even if this is some time ago. It was a year of records once again. The overall turnover increased by 8% to €142,000,000,000 particularly glad I'm about the fact that in the insurance company in saturated markets such as Germany, we could again increase significantly that is by 15%.
The remaining market, we could only increase by 4%. Also strategic acquisitions such as in the United Kingdom contributed to this plus. And assets under management for 3rd parties at EUR 1,686,000,000 achieved a new all time high. Thus, we're creating also as far as the operating result is concerned a new high, €11,900,000,000 Thanks to our diversification, even a bad result like industrial insurance AGCS could be compensated in the income statement. This is a record value that you, dear shareholders, should be glad about because the result per share climbed by a substantial 8% to €18.9 The net income attributable to shareholders improved by 6% to €7,900,000,000 Thus, we've created the leeway to increase the dividend per share for the 7th consecutive time.
Our proposal is €9.60 per share. This does justice to a substantial plus of 7%. The Solvency II capital rate achieved a reassuring 2 12% by year's end. These are 10 percentage points more than towards the end of the Q3 of 2019. Solvency II is the regulatory work for European insurance companies, by the way.
Also internally, we're very healthy. The Inclusive Meritocracy Index shortly, IMEX, achieved at 73% a new record value. This number measures where we are in developing our leadership and performance culture. Motivated employees, as you know, are the foundation of our success. They are the face of Alliance visavisour clients.
In all markets and in all business segments, we continue to enthuse our clients. We work on that. Important measuring size is the so called net promoter score. It shows where the customers would recommend our products to our to their friends and family. 70% of our business was better than the respective competitors, but we want to achieve 75% or even more and our competitors are not asleep.
Thus, we're trying to get customer feedback even faster and particularly implementing it even faster. What I'm really glad about in more and more of our activities in the net promoter score, in the meantime, we have become the leaders in the market. In 2019, also in other areas, we could do justice to our claim to be better than our competitors. For the very first time, Alliance in the ranking of agency Interbrand has been the strongest insurance brand in the world. Under the strongest brands in the world overall, we gained 6 places and have moved up to place 43.
Thus, we're playing in the same ballpark as other large German markets such as Volkswagen or Adidas. The internationally leading rating agencies such as Standard and Poor's, Moody's and AM Best gave awarded the lines with the best grades, very often better than the ratings of other internationally active insurers. For the 3rd consecutive time, our commitment for sustainability was awarded with the 1st place of insurers in the Dow Jones Sustainability Indices. And we have shown the world that we're serious about climate protection. The limitation of CO2 emissions remains unchanged, one of the biggest challenges of humankind despite of COVID-nineteen.
Therefore, together with the United Nations and together with other partners, we have found that the net 0 asset owner alliance, this community of institutional investors, pension funds and insurers have committed themselves by the year 2,050 to make their investment portfolio greenhouse gas free. And as you've learned from the press potentially, this initiative has been has met a lot of agreement globally. We're one of the driving forces behind it. And this is but one example that shows that we do not only accept change, but we also like to shape change and drive change. And this applies particularly to our core business that is insurance and asset management.
Here, last year, I introduced Simplicity wins last year. Now you're asking yourself whether there are any tangible results that make the success of this strategy comprehensible. Simpler means more efficient and more client friendly at the same time. This is not a contradiction because we focus on what is really important for clients, less important things we try to automatize or we scrap it completely. You also see that in our cost quota in property and casualty.
It shows which part of €100 insurance premium flows into administration and sales. This quota for the first time and for the second time for the 2nd consecutive time could be lowered to now 27.5% after many years of consecutive increases. This is one example that our strategy bears fruit. This common success in autumn of this year will be honored by 1 alliance free share for our employees. We've promised our employees to contribute in our productivity increase.
A particularly vivid example of how we're creating change is our new product Plywachuts in Germany. In Germany, it has been bought by tens of thousands of clients already, fulfills lots of criteria that we associate with our new alliance client model. I introduced this model last year to you. It has 3 components, simple and thus customer centered, digital and third, scalable. In the new Privatius, 7 insurance groups are united.
Instead of 24 rebate variations, we only have 3 now. In only 30 seconds, the client gets a first price information and innovations are regularly introduced into the product. In future, there won't be any old product generations anymore for which own processes and systems had to be kept alive, which complexity and costs overwhelming. All that gives our clients a clear overview, and this harmonization works across countries borders. The next market launches are planned for Italy and France or are already ongoing.
We're getting better in using the advantages of our size systematically. Currently, we benefit a great deal from driving digitalization early on and with a lot of pressure, and we realize that the COVID-nineteen prices works as an accelerator here. Our virtual annual general meeting that was made possible at very short notice is just one more example for that. Digital and online very often are the only way now. Alone in the last two months, the number of German alliance agencies that can also consult customers online increased by more than 60%.
And these possibilities are used very intensively. The number of so called virtual meetings in the German sales has tripled, and the interest in trainings via quality consulting with digital sales tools is going through the roof at the moment. We see the crisis not only as a crisis, but also as a chance. Dear shareholders, let me tell you virtually from the Alliance Central Headquarters in Munich, let me tell you, your alliance will master this crisis. However, a record year as we've already predict as we still predicted in February for fiscal 2020 for 2019, 2020 is not going to be.
You've probably heard it in the press already last year, our original target range for the operating result of €12,000,000,000 plusminus €500,000,000 was reduced. This margin by €500,000,000 plusminus would be a fluctuation of our result by some 4% and that whereas the DUCs since the outbreak of the crisis has been fluctuating sometimes by 12%. The biggest daily fluctuations that we saw in 2019 in the DACHs were only 3%. This framework in such a volatile environment, we cannot keep. That would be like landing accurately to the millimeter in the middle of a hurricane.
We cannot promise that. However, we're working on keeping the impact of the pandemics overseeable and estimatable, and we will give you the results in due course. Despite the fall in security, our basis remains very solid. We've got a strong balance, stable liquidity and very good solvency. This year, ladies and gentlemen, we're celebrating 130 years of Alliance.
In all these years, we've gone through lots of crises, even wars. And usually, we come we've come out stronger. This is also going to be the case once corona has lost its horror because what comes afterwards whatever comes afterwards, we are prepared for it with simplicity wins. Stay healthy and stay loyal. And thus, I'll give the floor again to Hadik Mann.
Thank you very much, Mr. Beatty for your reports, which I think showed quite a bit of optimism. Thank you all for this and the supervisory board wishes all the best to you, to your colleagues on the Board of Management and to all the employees, good health and all the best to tackle the task you have ahead of you. Ladies and gentlemen, I've been informed that in the online service, the button to enter your objections has been made available since 10 a. M.
Munich time this morning. If you've registered before that, if you enter before that, you have to first click on one of the other buttons and go back to the initial menu, then you will see the button with which you can state your objections. The same holds true for your attendance information. That just as a technical remark. Ladies and gentlemen, that brings us to the end of the public part of the broadcast of our AGM.
From now on, only shareholders of Allianz SE who've locked in for the Internet broadcast with their shareholder number and their password will be able to