Allianz SE

Earnings Release • May 16, 2002

News Details

Ad-hoc | 16 May 2002 07:54

Allianz AG english

Allianz AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Allianz Group ‘ Performance in the First Quarter 2002 Net income of 1.9 billion euros ‘ global premium income up by more than 10 percent ‘ administrative expenses of Dresdner Bank reduced by around 10 percent During the first three months of the current fiscal year, the Allianz Group achieved net income of 1.9 billion euros. Aside from an improvement in operating business, the increase over the previous year is primarily due to realized capital gains. Total revenues amounted to 25.4 billion euros. The positive trend in insurance business continued during the first quarter of 2002. Worldwide the Allianz Group succeeded in increasing its gross premium income by 10.6 percent from 20.6 to 22.8 billion euros. Net income in banking business amounted to 2.0 billion euros. Assets under management of the Allianz Group at the end of the first quarter of 2002 increased to 1185 billion euros. Investments for third parties advanced by 3.5 percent to 642 billion euros. Earnings before taxes and amortization of goodwill amounted to 2.4 billion euros in the first quarter of 2002. Capital gains were the main reason for the increase of a good 70 percent by comparison with 1.4 billion euros in the first three months of the previous year. These assessments are, as always, subject to the disclaimer provided below. end of ad-hoc-announcement (c)DGAP 16.05.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: 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) interest rate levels, (vii) currency exchange rates including the Euro ‘ U.S. dollar exchange rate, (viii) changing levels of competition, (ix) changes in laws and regulations, including monetary convergence and the European 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 events on, and following, September 11th 2001. The matters discussed in this release may also involve risks and uncertainties described from time to time in Allianz AG’s filings with the U.S. Securities and Exchange Commission. Allianz AG assumes no obligation to update any forward- looking information contained in this release. ——————————————————————————– WKN: 840400; ISIN: DE0008404005; Index: DAX-30, EURO STOXX 50 Listed: Amtlicher Handel in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart, EUREX, Swiss Exchange, London, Paris, NYSE 160754 Mai 02