Allianz SE

Earnings Release • Feb 7, 2002

News Details

Ad-hoc | 7 February 2002 13:48

Allianz AG english

ALLIANZ AKTIENGESELLSCHAFT Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Allianz Group – Preliminary Key Data for Fiscal 2001 Surge in growth for insurance business – worldwide premium income up by 8 percent. On the basis of preliminary figures, the Allianz Group achieved a net income of 1.7 billion euros in fiscal 2001. The effects of the terrorist attacks in the USA exerted a significant effect on the operating result of the Allianz Group and led to a correction of the original forecast for earnings of 2.7 billion euros. The Allianz Group had already booked in a full net claims expenditure of 1.5 billion euros arising from the terrorist attacks in the third quarter of 2001. It anticipates sales growth in insurance business amounting to above 4 percent during fiscal 2002. Earnings are projected at exceeding 3 billion euros. The Board of Management of Allianz AG will recommend to the Annual General Meeting a dividend payment of 1.50 euros per share that remains unchanged in comparison with the previous year. Gross premium income in insurance business at the Allianz Group rose by 8.1 percent over fiscal 2000 from 68.7 to 74.2 billion euros. This considerably exceeded the 5 percent growth originally planned. The surge in growth was mainly generated from property and casualty insurance. Premiums calculated under IAS rules which do not take into account sales of life-insurance products that are primarily savings-oriented went up by 5.9 percent from 57.9 to 61.3 billion euros. There are also plans to make use of the new possibility of excluding minority shareholders offered by the Securities Takeover Act (Wertpapierübernahme-gesetz) with respect to the group companies Dresdner Bank, Hermes and Vereinte Versicherung. The Allianz Group holds more than 95 percent of the stock in these subsidiaries. The free float in Vereinte and Hermes is below 1 percent. Following completion of forward buying contracts already concluded, the free float remaining to be bought out in Dresdner Bank will be around 2.8 percent. These assessments are as always subject to the disclaimer provided below. end of ad-hoc-announcement (c)DGAP 07.02.2002 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 business and 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 11, 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 071348 Feb 02