Allianz SE 1Q 2014 -- Updated Forecast

New: Including operating profit P/C from one more analyst.

FRANKFURT--The following is a summary of analysts' forecasts for Allianz SE (ALV.XE) first-quarter results, based on a poll of 10 analysts conducted by Dow Jones Newswires (figures in million euros, dividend and target price in euro, combined ratio in percent, according to IFRS). Earnings figures are scheduled to be released May 14.

=== 
                                                     Operat. 
                          Operat.        Operat.     profit 
             Operating    profit         profit       Asset 
1st Quarter     profit       P/C  Life & Health  management 
 
AVERAGE          2,604     1,380            818         675 
Prev. Year       2,797     1,319            855         900 
+/- in %          -6.9      +4.6           -4.3         -25 
 
MEDIAN           2,627     1,387            806         676 
Maximum          2,675     1,451            861         753 
Minimum          2,490     1,280            780         610 
Amount               8         8              7           8 
 
Bankhaus Lampe   2,531     1,340            780         676 
Berenberg        2,621     1,400            806         677 
Bryan Garnier    2,675     1,451            829         675 
Commerzbank      2,633     1,407             --         666 
Credit Suisse    2,560     1,374            798         641 
Equinet          2,490     1,280            800         700 
J.P. Morgan      2,660     1,439            861         610 
Nomura           2,665     1,347            851         753 
 
                        Net attrib.  Comb. Ratio 
1st Quarter       EBT       income          (a) 
 
AVERAGE         2,480        1,605         93.6 
Prev. Year      2,678        1,707         94.3 
+/- in %         -7.4         -6.0         -0.8 
 
MEDIAN          2,447        1,583         93.7 
Maximum         2,681        1,700         93.8 
Minimum         2,340        1,545         93.3 
Amount              5            7          6 
 
Bankhaus Lampe  2,447        1,545         93.8 
Berenberg       2,493        1,583         93.6 
Bryan Garnier      --        1,700           -- 
Commerzbank        --           --         93.7 
Credit Suisse   2,438        1,576         93.3 
Equinet         2,340        1,558           -- 
J.P. Morgan     2,681        1,688         93.3 
Nomura             --        1,585         93.7 
 
          Target price  Rating              DPS 2014 
 
AVERAGE         145.50  positive 6  AVERAGE     6.37 
Prev. Quarter   140.76  neutral  0  Prev. Year  5.30 
+/- in %          +3.4  negative 0  +/- in %     +20 
 
MEDIAN          148.00              MEDIAN      5.64 
Maximum         152.00              Maximum     8.90 
Minimum         135.00              Minimum     5.30 
Amount               6              Amount         4 
 
Bankhaus Lampe  135.00  Buy                     5.60 
Bryan Garnier   150.00  Buy                     5.30 
Commerzbank     150.00  Buy                       -- 
Credit Suisse   146.00  Outperform              5.67 
J.P. Morgan     152.00  Overweight              8.90 
Nomura          140.00  Buy                       -- 
=== 

Year-earlier figures are as reported by the company.

(a) Property-casualty.

DJG/mus 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires