German insurer Allianz SE (AZSEY.PK) reported a 24 percent rise in first-quarter preliminary net income attributable to shareholders to nearly 1.7 billion euros, from 1.4 billion euros a year before. For the first quarter of 2013, operating profit advanced by 20 percent year-on-year to nearly 2.8 billion euros, from 2.3 billion euros.
Based on preliminary figures, Allianz Group recorded total revenues of around 32 billion euros in the first quarter of 2013, up 6.6 percent from last year's 30.1 billion euros.
According to Michael Diekmann, CEO of Allianz SE, "The improvement in our results comes from all of our business segments, so it is broadbased. Thus, the start into this fiscal year can be described as truly successful." Inspite of the good first-quarter results, in view of the existing market risks, the board of Management sees no need for an adjustment of its fiscal 2013 outlook.
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