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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Allianz Ag Muenchen Namen (PK) | USOTC:ALIZF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.77 | 1.30% | 293.90 | 280.21 | 293.90 | 293.90 | 293.90 | 293.90 | 1 | 15:00:09 |
Allianz SE (ALV.XE), Europe's largest insurer by gross premiums, aims for a higher contribution from global business lines in the mid-term, management board member Clement Booth told investors, according to an investor presentation on Allianz's website.
Allianz's global business lines include industrial insurance, asset management, credit insurance, life and health insurance, insurance-bound assistance, automotive insurance, reinsurance and others. In 2009, these business lines combined contributed about 15%, or EUR14.5 billion, to Allianz's group revenue of EUR97.4 billion; and 34%, or EUR2.5 billion, to operating profit of EUR7.2 billion.
In its industrial insurance business, called Allianz Global Corporate & Specialty, which is vulnerable to losses from natural or man-made disasters such as earthquakes, hurricanes and oil spills, the "diversified portfolio helps to keep large and CAT [catastrophic] losses within expectations," according to the presentation.
In its industrial business, Allianz expects "challenging market conditions" for 2010 and 2011, saying rates across all business lines will drop by 1% this year and remain flat next year. However, the mid-term outlook is positive, the insurer said, adding that it expects a 1% rate rise in industrial business in 2012 and an improved 2% in 2013.
In its asset management business, Allianz Global Investors, Allianz is targeting a cost-income ratio of below 65% mid-term.
-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com
1 Year Allianz Ag Muenchen Namen (PK) Chart |
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