The FINANCIAL — Allianz Group continued to grow in 2013.
The FINANCIAL — Allianz Group continued to grow in 2013. Based on preliminary figures, revenues rose 4.1 percent to a new high of 110.8 billion euros from 106.4 billion euros the year before. Excluding foreign currency exchange and consolidation effects, revenue growth amounted to 4.7 percent. The total number of customers insured by Allianz increased over the same period by five million to over 83 million, according to Allianz.
Operating profit reached 10.1 billion euros. Compared to 9.3 billion euros for the year 2012, this represents an increase of 7.8 percent. Net income attributable to shareholders increased by 14.6 percent in 2013 to 6.0 billion euros from 5.2 billion euros the year before.
In Property and Casualty insurance, operating profit increased compared to the previous year, despite higher compensations for customers after natural catastrophes. In the Life and Health insurance business statutory premiums grew while volatile capital markets pressured operating profit. With a higher operating profit, Asset Management continued its successful course, despite uncertainty about the policy of the US Federal Reserve that led to swings in interest rates, according to Allianz.
The conglomerate solvency ratio reached 182 percent as of the end of 2013, up one percentage point from 181 percent as of January 1, 2013. Shareholders’ equity of 50.084 billion euros at year end remained at a similar high level as 50.388 billion euros at the beginning of the year.
The Board of Management will propose to the Supervisory Board of Allianz SE a dividend of 5.30 euros per share, an increase of 18 percent compared to the 2012 dividend of 4.50 euros.
“In a politically and economically challenging environment Allianz produced very good results for 2013, and we want to maintain that level this year as well. Therefore, our operating profit outlook for 2014 is 10.0 billion euros, plus/minus 500 million euros,” said Michael Diekmann, CEO of Allianz SE. “The environment will remain challenging in 2014, but our performance shows that we are well positioned with our three-segment strategy,” he added.
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