Allianz confident despite profit slide in Q1
German insurance giant Allianz shrugs off market volatility and low interest rates to confirm its full-year forecasts
Frankfurt am Main - AFP
German insurer Allianz said Wednesday that it took a hit on its bottom line in the first quarter but said it was still confident of achieving its target of stable underlying profits for the whole year.
Allianz said in a statement that its net profit fell by 15 percent to 1.8 billion euros ($2.0 billion) in the period from January to March.
But that was largely attributable to the fact that the year-earlier figure had been inflated by one-off gains from the sale of financial stakes, the insurer explained.
Underlying or operating profit in the three-month period rose by 9.4 percent to 2.9 billion euros on the back of a 2.5-percent increase in revenues to 36.2 billion euros.
Allianz also pointed to "claims stemming from large losses and natural catastrophes" in the first quarter that had weighed on its property and casualty insurance division.
"Despite market volatility and low interest rates, we confirm our outlook and continue to expect an operating profit for the full year of 10.8 billion euros, plus or minus 500 million euros" said chief executive Oliver Baete.
source: AFP
GMT 09:45 2018 Friday ,19 January
Rolls-Royce deepens restructuring, may sell marine unitGMT 09:15 2017 Thursday ,27 April
Airbus profits take off on sale of defence electronics firmGMT 20:46 2017 Tuesday ,25 April
Staff pay eats up profits from SAP's cloud expansionGMT 10:41 2017 Thursday ,16 March
Lufthansa cautious for year ahead after boost in 2016GMT 08:21 2017 Saturday ,11 March
VW pleads guilty in 'dieselgate' case, ending US case
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 20:26 2017 Thursday ,20 April
Busy harvest time in China's bamboo forests
GMT 21:39 2017 Thursday ,28 December
ERC tracking work progress in recreational park in Yemen
GMT 14:53 2018 Friday ,30 November
International Day of Solidarity with Palestinian People focus of dailies
GMT 12:56 2016 Wednesday ,13 April
World's first Tiananmen museum to close doors in Hong Kong
GMT 19:41 2017 Thursday ,23 February
Israeli army crosses Gaza border to raze agricultural land
GMT 10:51 2016 Thursday ,10 November
Asia markets extend global rally
GMT 06:34 2017 Wednesday ,18 January
Israeli forces kill Palestinian
GMT 13:37 2018 Wednesday ,12 December
WADA views International Sambo Federation as one of best in fight against doping abuse
GMT 19:14 2018 Thursday ,04 October
Jordan's King Abdullah II hails Kingdom's ties with Kuwait, Saudi Arabia, UAE
GMT 09:54 2013 Thursday ,28 February
Tragedy for the Canal regions and the Brotherhood's backwardness
GMT 10:33 2017 Sunday ,24 December
How good is your passport?
GMT 12:10 2017 Wednesday ,18 January
Emojis use can give insight into human behaviour to communicate and gives insight
GMT 19:46 2017 Tuesday ,03 October
Aramco launches strategic partnership with Malaysian Petronas
GMT 08:56 2017 Tuesday ,14 March
How about Nat? Devotees dance for Myanmar party spirit
GMT 11:21 2015 Tuesday ,01 December
Japan fleet sets sail for Antarctic whale hunt
GMT 04:53 2017 Saturday ,08 April
Oil jumps in knee-jerk reaction after U.S. launches missile strikes at Syria
GMT 09:52 2017 Friday ,19 May
Saudi Foreign Minister praises Trump’s visit to Riyadh
GMT 19:47 2016 Friday ,30 September
Awqaf minister praises tolerance among Egyptian people
GMT 20:42 2017 Friday ,24 November
Interior Minister receives KFCO Director-General
GMT 20:00 2017 Saturday ,23 September
EU leaders want clarity on citizens, Brexit financial terms
GMT 03:58 2016 Thursday ,23 June
Daimler to rev up e-mobility drive
GMT 10:33 2017 Wednesday ,11 October
Melhem Zein insists on participating in concert
GMT 11:12 2015 Saturday ,25 July
New sensors measure blood anti-coagulation drug
GMT 16:14 2017 Saturday ,25 March
Morocco’s coach stresses readiness for Africa Cup’s qualification
GMT 15:15 2016 Sunday ,16 October
Sri Lanka probes suicide note ‘confession’ to murder
GMT 11:18 2018 Saturday ,20 January
Warning statements by embassies irregular
GMT 09:12 2018 Tuesday ,02 January
136 civilians 'killed' in Saudi-led strikes on Yemen in 10 days
GMT 15:10 2016 Monday ,26 December
Freezing weather Aleppo refugees’ new enemy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor