Allianz (PINK: AZSEY)

QUOTE AND NEWS
Reuters  Oct 11  Comment 
A consortium of infrastructure investors, including the alternative investment arm of German insurance group Allianz, has taken over British rolling stock leasing company...
newratings.com  Oct 7  Comment 
Allianz SE: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution Allianz SE 13.10.2014 10:54 Dissemination of a Voting Rights Announcement, transmitted...
Wall Street Journal  Oct 2  Comment 
Less than a week after Pimco co-founder Bill Gross left the firm, the asset manager's German parent company, Allianz, said its top executive is also on his way out.
newratings.com  Oct 2  Comment 
Allianz SE: The Supervisory Board of Allianz SE resolves on Board of Management Memberships / Oliver Bäte to become new Chairman of the Board of Management effective May 7, 2015 Allianz SE / Key word(s): Change of Personnel 02.10.2014...
Automotive World  Sep 30  Comment 
Allianz SE and BMW AG have renewed their collaboration on a global level for another five years. The CEOs of the two companies, Michael Diekmann and Dr. Norbert Reithofer, signed the extension of a Global Partnership Agreement between both groups,...
Reuters  Sep 30  Comment 
German insurance giant Allianz is eager to invest more of its 570 billion euro ($720 billion) of funds in domestic infrastructure projects but says the government in Berlin...
newratings.com  Sep 30  Comment 
PNE WIND AG: Calau II D wind farm commissioned and handed over to Allianz DGAP-News: PNE WIND AG / Key word(s): Miscellaneous PNE WIND AG: Calau II D wind farm commissioned and handed over to Allianz 30.09.2014 /...
newratings.com  Sep 30  Comment 
Allianz SE: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution Allianz SE 30.09.2014 13:27 Dissemination of a Voting Rights Announcement, transmitted...
Insurance Journal  Sep 30  Comment 
It was 2:28 p.m. in Munich on Sept. 26, and Bill Gross, in charge of $2 trillion as chief investment officer at Pacific Investment Management Co., had just announced that he was joining Janus Capital Group Inc., a struggling stock … The...




 

Allianz (PINK: AZSEY) is an integrated financial services provider with over 75 million customers and a presence in more than 70 countries. It is the largest insurer in Germany with a market share of 18% of the property and casualty insurance in that country and is a leader in Europe. It is also one of the top insurers worldwide. Its clientele includes nearly half of the Fortune 500 companies. Allianz is also the largest foreign insurance company in the emerging markets of Central and Eastern Europe. In the life and health insurance businesses, it is the market leader in many Western European countries.

Allianz also acts as a global provider of institutional and retail asset management products and services to third-party investors. On January 12, 2009, the Company sold Dresdner Bank AG to Commerzbank. In May 2010, the Company acquired six solar parks, each with up to one megawatt peak capacity, from BP Solar Italy, a unit of BP Alternative Energy.[1]

In fiscal 2009 the Allianz Group achieved total revenues of over 97.4 billion euros. Allianz is also one of the world's largest asset managers, with third-party assets of 926 billion euros under management at year end 2009.[2]

Company Overview

Business and Financial Metrics

First Quarter 2010 Results[3]

During the first quarter of 2010 Allianz increased operating profit 20.4 percent to 1.7 billion euros. Quarterly revenue increased 10.3 percent to 30.6 billion euros. Net income increased to 1.6 billion euros. Operating profit growth in both Life/Health and Asset Management overcompensated for a decline in the Property-Casualty result. This segment was especially impacted by claims from natural catastrophes.

Business Segments

Insurance

Allianz is one of the leading insurance groups in the world and ranks number one in the German property-casualty and life insurance markets based on gross premiums written and statutory premiums, respectively. The company's product portfolio includes a wide array of property-casualty and life/health insurance products for both private and corporate customers.

Allianz conducts business in almost every European country, with Germany, Italy and France being its most important markets. The company also runs operations in the United States, Central and Eastern Europe and the Asia-Pacific region.

Property-Casualty During the first quarter of 2010, a combination of tariff increases, portfolio cleaning and selective underwriting in the Property and Casualty business resulted in gross premiums written of 14.0 billion euros.[3] Compared to 13.9 billion euros in the first quarter of 2009, premiums increased by 0.8 percent.[3] Operating profit decreased by 26.5 percent to 712 million euros, following 969 million euros in the same period of last year.[3] This decline was largely attributable to major losses from natural catastrophes amounting to 555 million euros during the first quarter of 2010.[3]

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Life/Health The Life/Health segment delivered its highest quarterly revenue ever in the first quarter of 2010, with 15.4 billion euros.[3] Statutory premiums grew from both traditional and investment-oriented products. Compared to 13.0 billion euros in the previous year's first quarter, revenues in first quarter 2010 grew by 18 percent.[3]

Operating profit more than doubled to 812 million euros, from 402 million euros in first quarter 2009.[3] This was mainly due to a higher investment result based on lower impairments and higher realized gains in favorable equity markets.[3]

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Asset Management

Allianz is one of the five largest asset managers in the world. Business activities in this segment consist of asset management products and services both for third-party investors and for the Allianz Group's insurance operations. Allianz serves a comprehensive range of retail and institutional asset management clients. Its institutional customers include corporate and public pension funds, insurance and other financial services companies, governments and charities, and financial advisors. The United States, Germany, France, Italy and the Asia-Pacific region represent Allianz's primary asset management markets.

The Allianz Group managed 926 billion euros of third-party assets as of December 31, 2009.[4]

The Asset Management segment recorded strong quarterly revenue growth in the first quarter of 2010. Net fee and commission income in the first quarter rose by 54.7 percent to 1.1 billion euros, from 709 million euros in first quarter 2009.[3] Operating profit grew by 120.9 percent to 466 million euros, compared to 211 million euros in the previous year's first quarter.[3] Third-party assets under management amounted to a historic high of 1.023 trillion euros as of March 31, 2010, following 926 billion euros at the end of 2009.[3]

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Competition

Allianz's main competitors are Aegon (AMS:AGN), AXA (AXA), Generali, ING Groep N.V. (ING), Munich Re and Zurich Financial Services. Besides these international competitors, there are other local and regional companies competing for business in the various countries and markets.

  • Aegon (AMS:AGN) is one of the world’s largest providers of life insurance, pensions and long-term savings and investment products, with over 40 million customers across the globe. The Company is a provider of life insurance, pensions and asset management. AEGON is also engaged in accident, supplemental health, general insurance, and some limited banking activities. The Company operates in four segments: the Americas, which include the United States, Canada, Mexico and Brazil; the Netherlands; the United Kingdom, and Other Countries, which includes Hungary, Spain, China, Poland, India and a number of other countries.
  • AXA (AXA) provides life insurance, financial protection, investment, superannuation, wealth management and financial advice, products and services. AXA APH is the holding company for AXA APH Group’s life insurance, wealth management and advice businesses in Australia, New Zealand, Hong Kong, China, Singapore, Thailand, the Philippines, Indonesia, India and Malaysia. AXA APH is organized geographically into three operating divisions. The Australia and New Zealand segment is engaged in the life insurance and wealth management. The Hong Kong segment includes life insurance and wealth management. The Asia ex Hong Kong segment includes life insurance and wealth management in China, Singapore and other countries across the Asian regions.
  • Generali is one of the most significant participants in the global insurance and financial products market. Having strengthened its position in Western Europe, Generali has consolidated its position among the world’s leading insurance operators, with significant market shares in Asia, the Americas, Africa and the Middle East. Generali has over 60 millions clients worldwide.
  • ING Groep N.V. (ING) is a global financial institution offering banking, investments, life insurance and retirement services to meet the needs of the customers. It operates in six business segments: Retail Banking, ING Direct, Commercial banking, Insurance Europe, Insurance Americas and Insurance Asia/Pacific.
  • Munich Re is one of the world's leading players in the reinsurance industry. Munich Re's business fields include primary insurance, reinsurance and Munich Health as the third pillar for the challenges of the global healthcare market.
  • Zurich Financial Services is an insurance-based financial services provider with a worldwide network of subsidiaries and offices in North America and Europe, as well as in Asia-Pacific, Latin America and other markets. The Company operates in three segments: General Insurance, Global Life and Farmers.

References

  1. Reuters: ALLIANZ SE (ALIZF.PK)
  2. Allianz Profile
  3. 3.00 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 3.10 3.11 Allianz: "Allianz Group in the first quarter of 2010 increases operating profit 20.4 percent to 1.7 billion euros"
  4. About Allianz: Lines of Business
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