DGAP-News

Allianz SE: Allianz continues to grow in revenues and profits

DGAP-News: Allianz SE / Key word(s): Quarter Results
Allianz SE: Allianz continues to grow in revenues and profits

26.02.2015 / 06:59

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*Revenues up 10.4 percent to 122.25 billion euros
*Operating profit grows 3.3 percent to 10.40 billion euros
*Net income attributable to shareholders rises 3.8 percent to 6.22 billion
euros
*New dividend policy leads to proposed dividend of 6.85 euros per share
*Operating profit outlook for 2015: 10.4 billion euros, plus/minus 400
million euros

Allianz Group again delivered very good results in 2014. For the first
time, revenues surpassed the 120 billion-euro mark. Based on preliminary
figures, Group total revenues rose 10.4 percent to 122.25 (previous year:
110.77) billion euros. Over the same period, the total number of customers
insured by Allianz increased by 2 million to 85 million.

Operating profit increased 3.3 percent to 10.40 (10.07) billion euros. The
result is in the upper end of the target range as forecast in November
2014. The projected range for the 2014 operating profit was 10.0 billion
euros, plus/minus 500 million euros. Net income attributable to
shareholders increased by 3.8 percent to 6.22 (6.00) billion euros.

"Geopolitical tensions, continued market volatility and a further decline
in interest rates in 2014 led to lower global economic growth than
expected," said Michael Diekmann, CEO of Allianz SE. "Despite these
challenges, Allianz achieved very good results in revenues, operating
profit and net income."

Operating profit in the Property and Casualty insurance segment increased
in 2014 compared to the previous year and delivered more than half of the
total Group operating profit. Strong internal growth, in particular in the
global insurance lines and the UK, drove premiums in this segment. Major
natural catastrophes were much lower than in the prior year.

In the Life and Health insurance segment, both statutory premiums and
operating profit grew at double-digit rates, reflecting a high demand for
Allianz products in the low-interest rate environment. Operating profit was
at the upper end of the forecast range following a better investment
result.

Asset Management generated lower operating profit in line with expectations
amid the change in management at PIMCO. Allianz Global Investors achieved a