Allianz: Confident for 2015 after favourable Q1

GMT 09:40 2015 Wednesday ,06 May

Arab Today, arab today Allianz: Confident for 2015 after favourable Q1

Frankfurt - AFP

German insurance giant Allianz said on Wednesday that it was confident for the whole of 2015 after it got off to a good start in the first three months.

"Our first quarter results were a good start into 2015," said chief executive Michael Diekmann.

"We remain confident in achieving our full-year operating profit target of 10.4 billion euros ($11.7 billion), plus or minus 400 million euros," Diekmann said.

Based on preliminary figures, Allianz achieved total revenues for the first quarter of 2015 of 37.8 billion euros, which represents an increase of 11.2 percent compared to the previous year.

Underlying or operating profit rose by 4.8 percent to 2.86 billion euros and net profit was up 11.0 percent at 1.82 billion euros, Allianz said.

The group said it would publish detail first-quarter earnings on May 12.

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