Allianz SE, Europe’s largest insurer,
published fourth-quarter earnings that overlooked analysts’ estimates and said
running income may also decline this 12 months amid low interest charges. The
shares fell.
internet profits grew to €1.26 billion euros ($1.72 billion)
inside the region from €1.24 billion [$1.7 billion] within the year-in advance
length, the Munich-primarily based organization stated in a assertion nowadays.
That compared with the €1.31 billion [$1.788 billion] common estimate of
thirteen analysts surveyed with the aid of Bloomberg.
Insurers and reinsurers are targeted on bolstering earnings
from underwriting as decrease hobby fees weigh on funding returns. Allianz, led
via leader govt Officer Michael Diekmann, 59, is focused on €9.five billion
[$12.966 billion] to €10.5 billion [$14.33 billion] of working profit this yr
after incomes €10.1 billion [$13.784 billion] in 2013, the business enterprise
stated.
“We keep to see more drawback chance than upside hazard at
Allianz,” Thomas Seidl, an analyst at Sanford Bernstein in London,
said in an e-mailed record to clients. property and casualty coverage “is the
most effective section enhancing whilst we see margins compressing in life and
falling income at Pimco.”
Allianz shares misplaced 2.four percentage to €127.eight
[$174.42] at nine:10 a.m. in Frankfurt.
Losses this 12 months totaled 1.8 percentage in comparison with a gain of
1.nine percentage for the Bloomberg Europe 500 insurance Index.
the share declined as Allianz said it will increase its
dividend payout for 2013 to €5.30 [$7.23] in keeping with percentage from
€four.50 [$6.14]. That matched a Bloomberg forecast.
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