Allianz losses prompt rethink

Allianz shares closed the fortnight tracked by WIR almost 5% down on the previous fortnight at €60.40, the lowest figure recorded by WIR in six months (see chart) while its capitalisation stands at US$17bn. A set of eagerly awaited results for last year sparked the decrease in share value after the group revealed a loss of €1.2bn in 2002 –the first loss in its history –and a write-down on investments totalling €5.5bn.