Property/casualty drives Allianz profits

Allianz is hoping that improvements to efficiency will mitigate the effects of claims and cost inflation

The insurance operations of the Allianz Group are sound and property/casualty business was the main driver for operating profit, said the group on publishing its annual report for 2008. P/c business was least affected by the crisis in the financial markets and the combined ratio remained strong (at 95.1% in 2008).