World Insurance Report
Allianz lowers profit expectations as losses climb
Half-year figures for
Allianz’s domestic property/casualty business has forced the group to revise downwards its expectations for the current year.
Allianz Sachgruppe said it expects turnover to reach €9.3bn, which would be a slight increase of 1% compared with 1999. It also expects
pre-tax profits of €800mn, down from €1.08bn.