Allianz SE

Earnings Release • May 13, 2005

News Details

Corporate | 13 May 2005 07:27

Allianz AG: Group Key Figures First Quarter 2005

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Allianz Group Key Figures Euro mil 1Q 2005 1Q 2004 Total revenues (Euro bn) 28.3 27.2 Operating profit 1) 1,830 1,227 – Property/Casualty 1,004 497 – Life/Health 357 371 – Banking 238 179 thereof Dresdner Bank 216 174 – Asset Management 231 180 Profit before goodwill amortization, taxes and minorities 2,088 1,551 Goodwill amortization 0 -294 Taxes -569 -339 Minorities -335 -301 Net income 2) 1,184 617 – Property/Casualty 753 554 – Life/Health 326 247 – Banking 3) 475 56 thereof Dresdner Bank 3) 466 88 – Asset Management 28 -107 – Consolidation adjustments -398 -133 Earnings per share (Euro) (Basic) 3.13 1.68 Ratios: – Property/Casualty:Combined ratio 92.1% 95.8% – Life/Health:Statutory expense ratio 4) 6.6% 9.2% – Dresdner Bank:Operating cost-income ratio 80.4% 81.4% – Asset Management:Cost-income ratio 60.9% 66.9% Euro bn 31.03.2005 31.12.2004 Shareholders’ equity 41.6 37.7 thereof minority interests in shareholders’ equity 8.0 7.7 Assets under management 1,133 1,070 thereof third-party assets 624 585 1) For a description on how we measure operating profit and a reconciliation to net income, see interim report, page 2, 10 (Property/Casualty), 13 (Life/Health), 16 (Banking), 19 (Asset Management).The document is available on the internet page http://www.allianz.com/1Q . 2) Q1 2004 figures have been restated according to IFRS accounting stardards in accordance with which the amortization of goodwill has not been cancelled. 3) Net income of Dresdner Bank and the banking segment for the first quarter of 2005 shows a realized gain of 233 million euros from the intra-group transfer of Munich Re shares. This has been eliminated in the consolidation column. 4) Represents ratio of net acquisition costs and administrative expenses 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 duty to update The company assumes no obligation to update any information contained herein. End of announcement (c)DGAP 13.05.2005 —————————————————————————— 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 130727 Mai 05