Allianz records highest ever profits

by Richard Kilner

Story link: Allianz records highest ever profits

The Allianz Group has confirmed its forecast for its 2007 results, based on it prelimary figures.

Both operating profit and net income are expected to rise, to €10.8bn and €8bn respectively.

The operating profit for property and casualty will come in at over €6.2bn for 2007, and life and health will reach the €3bn level.

The banking business sees an annual operating profit of €750m, despite a fourth quarter performance of minus €450m, mostly explained by valuation adjustments.

Asset management generated more than €1.3bn in operating profit.

The overall results for Allianz Group is that from 2006 to 2007 the overall operating profit incresed by €1bn.