Based on preliminary figures, Allianz Group achieved total revenues of nearly 30 billion euros in the first quarter of 2011, compared to 30.6 billion euros in the first quarter of 2010.
New joint venture Allianz Popular will bundle various existing joint ventures - Cooperation expanded to asset management - Allianz with majority stake in Allianz Popular - Long-term exclusive distribution agreement for life insurance, pension plans, asset management as well as property and casualty insurance
Revenues up 9.3 percent to new high of 106.5 billion euros - Operating profit grows 17.0 percent to 8.2 billion euros, combined ratio improves to 97.2 percent - Net income up 12.0 percent to 5.2 billion euros - Solvency ratio increases 9 percentage points to 173 percent - Proposed dividend of 4.50 euros per share, up 9.8 percent
Joachim Faber (60), Member of the Board of Management of Allianz SE, responsible for the Asset Management business, has informed the Supervisory Board of Allianz SE of his intention to retire on December 31, 2011.
