Allianz SE

Earnings Release • Aug 12, 2005

News Details

Corporate | 12 August 2005 07:28

Allianz AG: Group Key Figures Second Quarter 2005

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Allianz Group Key Figures Euro mil 2Q 2005 2Q 2004 Total revenues (Euro bn) 23.7 22.2 Operating profit 1) 2,371 1,995 – Property/Casualty 1,390 1,263 – Life/Health 448 299 – Banking 278 252 thereof Dresdner Bank 272 235 – Asset Management 255 181 Profit before goodwill amortization, taxes and minorities 2,169 1,512 Goodwill amortization 0 -294 Taxes -422 -351 Minorities -352 -295 Net income 2) 1,395 572 – Property/Casualty 1,498 1,242 – Life/Health 375 148 – Banking 3) 249 133 thereof Dresdner Bank 3) 244 134 – Asset Management 76 -98 – Consolidation adjustments -803 -853 Earnings per share (Euro) (Basic) 3.62 1.56 Ratios: – Property/Casualty:Combined ratio 89.8% 92.8% – Life/Health:Statutory expense ratio 4) 8.2% 9.2% – Dresdner Bank:Operating cost-income ratio 83.6% 80.6% – Asset Management:Cost-income ratio 59.8% 67.5% Euro bn 30.06.2005 31.12.2004 Shareholders’ equity 45.0 37.7 thereof minority interests in shareholders’ equity 8.3 7.7 Assets under management 1,211 1,070 thereof third-party assets 688 585 1) For a description on how we measure operating profit and a reconciliation to net income, see interim report, pages 2, 11 (Property/Casualty), 15 (Life/Health), 19 (Banking), and 22 (Asset Management). 2) Q2 2004 resp. H1 2004 figures have been restated according to IFRS accounting standards; amortization of goodwill has not been cancelled. 3) Net income of Dresdner Bank resp. the banking segment for the first quarter of 2005 resp. first half of 2005 showed a realized gain of 233 million euros from the intra-group transfer of Munich Re shares. This has been eliminated in the consolidation adjustment 4) Represents ratio of net acquisition costs and administrative expenses as presented in the consolidated financial statements to net premiums earned (statutory). These assessments are, as always, subject to the disclaimer provided below. End of message. 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 obligation to update The company assumes no obligation to update any information contained herein. End of announcement (c)DGAP 12.08.2005 —————————————————————————— 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 120728 Aug 05