Allianz SE (AZSEY: OTC Link) | Hurricane Sandy leaves Allianz operating profit outlook unchanged

Hurricane Sandy leaves Allianz operating profit outlook unchanged

Jan 15, 2013

OTC Disclosure News Service

Munich, Germany

  • Allianz impact from Hurricane Sandy amounts to 590 million US-dollars
  • Operating profit still expected to exceed 9 billion euros

Hurricane Sandy, which hit the north eastern coast of the United States in late October 2012, has had an estimated total impact on Allianz of 590 million US-dollars (455 million euros). This preliminary figure includes payments to customers and related items such as reinsurance reinstatement fees.

“Despite the impact of Hurricane Sandy, we continue to expect our operating profit for 2012 to exceed 9 billion euros,” says Dieter Wemmer, Chief Financial Officer of Allianz SE.

Allianz will publish its year-end figures, including those for 2012 natural catastrophe impact, on February 21, 2013.

These assessments are, as always, subject to the disclaimer provided below.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The company assumes no obligation to update any forward-looking statement.

No duty to update
The company assumes no obligation to update any information contained herein.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/AZSEY/news?id=57474

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