Allianz Boost Its Profit

Allianz SE announced net income in the fourth quarter 2012 reached € 1.22 billion (U.S. $ 1.6 billion), an increase of more than double the same period last year. During 2012, the net profit of € 5.49 billion from € 2.8 billion in 2011, due to the recovery of European markets.

Dieter Wemmer, Chief Financial Officer (CFO) of Allianz, said premium income to grow positively in the European market as the recovery in demand. Overall, gross premiums rose 4.7%. Property and casualty insurance accounts for the largest contribution, ie, generating operating profit of € 1.26 billion, up from the fourth quarter of 2011 € 1.09 billion.

Michael Diekmann, CEO of Allianz, believe, slick performance in 2012 will continue this year. Premium income will grow resulting in operating profit in 2013 at least € 9.2 billion. The number was down slightly compared to the achievement in 2012 € 9.5 billion. "But I believe, 2013, to maintain profits," says Diekman.