A difficult year … (3rd period)

• Loss of 2.44 billion – including losses on Dresdner Bank (against a profit of 7.97 billion in 2007)
• Dresdner Bank – sold in January 2009 to Commerzbank – has caused to the insurer losses of 6.4 billion
• Allianz achieved a profit of 4 billion on its insurance business (against 8.7 billion in 2007)
• The operating profit in the non-life sector, in which Allianz is a world leader, fell by 10% to 5.6 billion
• The operating profit in the life sector was 1.2 billion (against 3 billion in 2007)
• Market conditions will continue to be difficult in 2009, a situation not expected to improve until late 2009 or early 2010
• The dividend payable per share will be 3.50 (against 5.50 in 2007)
• Stable AA S&P rating

• Net profit of 1.804 billion (against 2.807 billion in 2007)
• Premiums written -1% to 11.782 billion
• Income from property and casualty insurance up by 2% to 1.3 billion
• Personal insurance +3% to 3.8 billion
• Commercial insurance –2% to 5.0 billion
• Other insurance and liability insurance –2% to 2.9 billion
• Combined ratio 88.7% (against 82.9 in 2007), 5.1% due to the impact of natural catastrophes (against 3% in 2007)
• Dividend per share 0.20 (0.33 in 2007)
• A + S&P rating
• Thanks to sound management and a conservative investment philosophy, results have been only moderately affected by the situation on the financial markets.

• Loss of 99.289 billion in 2008 (against a profit of 6.2 billion in 2007)
• The US Treasury will inject a further 30 billion in 2009 to ward off bankruptcy
• A- /negative/A-1 S&P rating
• Trend towards spin-off, rather than hand-over, of Group activities (Asiatic operations, personal insurance in the US, international life insurance, non-insurance and toxic assets).

• Drop of 60.9% in annual net profit to 1.5 billion (against 3.840 billion in 2007)
• Premiums written +1.5% to 37.829 billion (37.256 billion in 2007)
• Combined ratio for reinsurance at 99.5% (96.4% in 2007)
• Combined ratio for property and casualty insurance at 91.2% (93.4% in 2007)
• Solvency ratio 264%
• Major losses due to natural catastrophes (hurricanes Ike & Gustav)
• Dividend per share of 5.50 (5.50 in 2007)
• Drop in investment results due to fall on the financial markets
• The reinsurer has made no forecast for 2009 and abandoned their target profit of 18.- per share for 2010
• Stable AA- S&P rating
• General Assembly to be held on 22nd April next.

• Turnover (TU below) – up 13% to 536.1 million (against 473.2. in 2007)
• Gross profit – up 23% to 76.2 million (62.1 in 2007)
• Casualty and other insurance – up +15% of TU
• Personal and protection insurance (employee benefits) – up +8% of TU
• Dividend unchanged at 20.5p
• In spite of the difficult economic prospects, the Group anticipates a further rise in TU in 2009.

Sources :
- Allianz Group
- Chubb
- AIG
- Munich Re
- JLT


Provisional timetables:
13 mars - SwissRe (General Assembly)
18 mars - Bâloise
19 mars - Allianz Suisse
24 mars - Swiss Life