Allianz SE

Earnings Release • Sep 13, 2002

News Details

Corporate | 13 September 2002 06:17

Allianz AG english

Allianz AG Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Allianz Strengthens Reserves in USA As already indicated this spring, Allianz AG will increase the reserves of its group company Fireman’s Fund Insurance Company for asbestos and environmental (A&E) risks. Tillinghast Towers-Perrin and Milliman USA had been commissioned with a detailed review of the concerned Fireman’s Fund insurance portfolio. Based on this analysis the reserves for asbestos and environmental risks will be raised by 750 million US-Dollars. To finance the reserve increase Allianz is providing capital to Fireman’s Fund. The transaction confirms Allianz’ commitment towards Fireman’s Fund. 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 assump-tions and involve known and unknown risks and uncertainties which could cause actual re-sults, 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) mortal-ity and morbidity levels and trends, (v) persistency levels, (vi) interest rate levels, (vii) currency exchange rates including the Euro – U.S. Dollar exchange rate, (viii) changing levels of com-petition, (ix) changes in laws and regulations, including monetary convergence and the Euro-pean Monetary Union, (x) changes in the policies of central banks and/or foreign governments, (xi) the impact of acquisitions (e.g. Dresdner Bank), including related integration issues, and (xii) 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 the event on, and following, September 11th, 2001. end of message, (c)DGAP 13.09.2002 ——————————————————————————– WKN: 840400; ISIN: DE0008404005; Index: DAX-30, EURO STOXX 50 Listed: Amtlicher Markt in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart, EUREX, Swiss Exchange, London, Paris, NYSE 130617 Sep 02