Allianz Net Profit Up in 2000

Allianz AG reported today a 12 percent rise in adjusted net profit in 2000, meeting analyst expectations. The company also fortified its outlook for 2001 following German tax reforms.

The company reported adjusted net profit rose to 2.3 billion euros ($2.12 billion), excluding 1.1 billion euros in minority interests and tax benefits, from 2.1 billion euros in 1999.

Allianz also stoked its profit-growth forecast for 2001 to 13 percent from its 2000 goal of 10 percent, citing benefits from tax reforms in Germany and rising expected returns from the insurer’s core underwriting business.

Topics Trends Profit Loss