Allianz hits the headlines with a strong first quarter 2016

Pimco's Outflows Hit Allianz Funds' Profit as Reversal in Sight (bloomberg.com)

“As a manager focused on fixed-income assets, Pimco is struggling to attract clients as interest rates remain at low levels. It also faces growing competition from passively run funds with lower fees.”

Starke Schwäche (Börsen-Zeitung)

Die wahre Stärke der Allianz zeigt sich keinesfalls in diesem Einmaleffekt eines Anteilsverkaufs in China, den der Kapitalmarkt honorierte. Die eigentliche Übermacht demonstriert der europäische Branchenprimus dort, wo er schwach zu sein scheint: in der Sparte, die primär für den Beitrags- und Gewinnrückgang verantwortlich ist - der Lebensversicherung. (…) Denn: Sie packt ein Problem, das das Nullzinsumfeld schafft, endlich beherzt an, statt sich wegzuducken und das Geschäft einzudampfen bei noch hohen Renditen für einige Zeit.

(Strength in weakness: The true strength of Allianz is not proven by the one-off  effect of an equity sale of in China, which was honored by the stock market. The European industry leader demonstrates its superiority exactly where it would appear to be weak: in the segment that is primarily responsible for decreasing premiums and profits – life insurance . ( ... ) That’s because, instead of shrinking away from a problem that is created by the zero interest-rate environment, Allianz is boldly tackling it and consolidating the business that is still enjoying high returns for a limited amount of time. )

Allianz confirms it is aiming for €10.5bn for 2016, give or take €500m (cityam.com)

“Allianz today confirmed its operating profit outlook of approximately €10.5bn (£8.3bn) for 2016, after experiencing what it called a strong start to the year.”

Allianz sehnt Trendwende für Pimco herbei (Frankfurter Allgemeine Zeitung)

„Nach dem Willen des Allianz-Vorstands muss die im kalifornischen Newport Beach angesiedelte Tochtergesellschaft, einst eine verlässliche Gewinnquelle des Konzern, jetzt die Trendwende schaffen. In diesem Jahr soll Pimco endlich wieder Kapitalzuflüsse erzielen.“

(Allianz longs to see Pimco make a turnaround: The member of the Allianz Board of Management is determined to see the once-reliable, profit-generating Group subsidiary based in Newport Beach, California, achieve a turnaround. Pimco is expected to finally have net inflows again this year.)

Allianz boosted by property/casualty product growth in first quarter (insuranceday.com)

“The insurer said this growth was primarily driven by expansion in Germany and Turkey, as well as in its Allianz Global Corporate & Specialty business. This helped drive an improvement of 12% in the segment’s operating profit, which grew to €1.4bn in the quarter, with a 1.3 percentage point improvement in its combined ratio to 93.3%.”

Allianz adjustiert in der Lebensversicherung (versicherungsmonitor.de)

„Bis 2018 soll jede Lebensversicherungseinheit der Allianz weltweit eine Eigenkapitalrendite (Return on Equity oder RoE) von 10 Prozent pro Jahr erreichen. Dafür hat der Konzern eine spezielle Life Task Force gegründet. (…) In der Lebensversicherung steuert der Konzern rabiat um.“

(Allianz makes adjustments in life insurance: Every life insurance unit of Allianz worldwide is expected to show a return on equity (RoE) of 10 percent a year by 2018. To do so, the Group has set up a special Life Task Force.(…) The Group is fiercely changing the direction of life insurance.)

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