Based on preliminary figures, Allianz Group confirms its forecast for the 2007 results. Operating profit is expected to exceed 10.8 billion euros and net income rises to 8 billion euros.
In the property and casualty business, operating profit amounts to more than 6.2 billion euros in 2007. During the same period, the life and health business achieves an operating profit of almost 3 billion euros.
The banking segment reports a negative operating result of approximately 450 million euros in the fourth quarter. This is largely due to valuation adjustments on structured products in the trading book of around 900 million euros. Nonetheless, operating profit for the full year is positive at approximately 750 million euros.
The Asset Management business reaches an operating profit of more than 1.3 billion euros.
As a result, despite a difficult market environment, Allianz Group was able to further increase its net income from 7 billion euros for 2006 to 8 billion euros for 2007.
With almost 48 billion euros, shareholders’ equity remains on a high level.
As already announced, Allianz will publish full details for the fiscal year 2007 on February 21, 2008.
Preliminary figures for 2007: profit forecast confirmed
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