Allianz SE

Earnings Release • Sep 8, 2005

News Details

Corporate | 8 September 2005 20:01

Allianz AG:Allianz profit target for 2005 on track

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Allianz profit target for 2005 on track Despite significant damages due to Hurricane Katrina and the Alpine floods in August, Allianz is confident it will reach its profit targets for 2005. For Allianz, these two natural catastrophes are estimated to cost around EUR500 million before taxes and minorities. This represents about 1.2 percentage points of the combined ratio. Katrina-related losses will cost the Allianz Group up to 470 million euros. Impact on net income is expected to be close to minus 300 million euros. Despite these payouts to customers, all communicated targets can still be reached. For more information go to www.allianz.com/news Ende der Mitteilung These statements are, as always, subject to the disclaimer provided below. These statements are, as always, subject to the disclaimer provided below. Cautionary note regarding forward-looking statements Certain of the statements contained herein may be 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, (iii) the frequency and severity of insured loss events, (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 matters discussed herein may also involve risks and uncertainties described from time to time in Allianz AG’s filings with the U.S. Securities and Exchange Commission. 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. End of announcement (c)DGAP 08.09.2005 —————————————————————————— WKN: 840400; ISIN: DE0008404005; Index: DAX-30, EURO STOXX 50 Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart; EUREX; Swiss Exchange; London; Paris; NYSE 082001 Sep 05