Allianz delivers 2.4 billion euros operating profit in 2Q
Aug 05, 2016
OTC Disclosure News Service
- Total revenues down 2.5 percent to 29.4 billion euros in 2Q; internal revenue growth of 0.4 percent in 2Q, adjusted for currencies and consolidation
- 2Q operating profit down 17.2 percent to 2.4 billion euros, impacted by natural catastrophes and exceptional effects
- 2Q operating profit in Asset Management stabilizing, assets under management up versus 1Q
- Value of new business in Life/Health up 62.2 percent in 2Q, new business margin up to 2.6 percent
- Net income attributable to shareholders down 46.0 percent to 1.1 billion euros in 2Q, driven by 352 million euros impact from the expected disposal of South Korea
- Solvency II capitalization ratio resilient at 186 percent as of June 30, 2016
- Operating profit outlook for 2016 confirmed within target range of 10.5 billion euros, plus or minus 500 million euros
Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group’s core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors maybe more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
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