Allianz • Generali

The Allianz group has reported a loss of €2.5bn (US$2.5bn) for the third quarter, which brought the total net loss for the nine months to September to €924mn. However, analysts were much more concerned about the fall in the insurance and banking group’s reserves from €31.7bn at the beginning of 2002 to €20.9bn at the end of September. One analyst even suggested that Allianz could no longer be considered a “safe haven”.