FINWIRE®

Results 2007 hit historical high in difficult environment

February 26th, 2008

Fiscal year 2007 was another very successful year for the Allianz Group.

Based on preliminary figures, the Group increased revenues, operating profit and net income compared to the previous year, despite a challenging financial markets environment in the second half of 2007.

All business segments contributed to the successful overall results.

However, parts of the investment banking business were significantly impacted by the credit crisis.

Both Life and Health insurance and Asset Management generated profitable growth, while operating profit in Property and Casualty insurance remained strong.

Total revenues of the Allianz Group increased to 102.6 billion euros from 101.1 billion euros in the previous year.

In 2007, operating profit climbed by 9 percent to 10.9 billion euros, from 10.0 billion euros adjusted for the below-normal NatCat level in 2006.

Net income rose by 13.5 percent from 7 billion euros in 2006 to 8 billion euros.

Shareholders’ equity, at 48 billon euros, was again on a high level compared with 50 billion euros in 2006.

Total customers worldwide increased by 7 percent from 75 million to 80 million in 2007.

"Despite challenging conditions in 2007, we were able to further improve our operating efficiency and profitable growth, and to achieve a record result for the year," said Michael Diekmann, CEO of Allianz SE.

"Thanks to the well-diversified business activities of the Group, we were less vulnerable to shocks and cycles in individual markets and segments," he added.

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