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
Was this article valuable?
Here are more articles you may enjoy.
Intersecting Risks and the Future of Construction Insurance 
Florida-Based Safepoint Withdraws IPO Just as it Was Expected to Launch 
Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
