Allianz SE

Regulatory Filings • Sep 21, 2001

News Details

Ad-hoc | 21 September 2001 07:56

Allianz AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Estimated losses for Allianz resulting from attacks in the U.S. reach 1 billion euros Solid financial condition of Allianz Group not impacted – expected net profit for 2001 at 1.7 billion euros Allianz has begun making its first claims payments to clients in the U.S. Through the efforts of its experts on location, the company is now also in a position to better assess the economic impact of the damages from the catastrophe. As a result of a rise in losses primarily from business interruptions, Allianz estimates total net losses of 1 billion euros. In addition to business interruption insurance, particularly significant sums are expected form aviation and property damage insurance. Due to this loss estimate and the updated forecast of Munich Re, Allianz expects a net profit of around 1.7 billion euros for the year 2001, compared to the previously forecasted result of 2 billion euros. This decline does not affect the financial solidity of the Allianz Group. For example, the estimated total loss mathematically translates to less than 3 euros for each Allianz share. These statements are as always subject to the disclaimer provided below. end of ad-hoc-announcement (c)DGAP 21.09.2001 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 our acquisition of Dresdner Bank, including related integration issues, and (xii) general competitive factors, in each case on a local, regional, national and / or global basis. 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; Index: DAX-30; EURO STOXX 50 Listed: Amtlicher Handel in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart; EUREX; Swiss Exchange, London, Paris, NYSE 210756 Sep 01