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BULLETIN: Allianz Returns To Profitability in Second-Quarter 2003 Aug 03
Standard & Poors, Aug 2003
Abstract
FRANKFURT (Standard & Poor's) Aug. 14, 2003--Standard & Poor's Ratings Services said today that Munich-based Allianz AG's (AZAG; AA-/Negative/A-1+) first-half 2003 net earnings are broadly in line with expectations and do not in themselves affect the ratings and outlook on the company and related entities. The current ratings are based on Standard & Poor's expectations, which are: a non-life combined ratio below 100% at year-end 2003, particularly in the U.S.; and for the group's industrial lines portfolio, including further improvement in the non-life technical performance in France to a combined ratio of around 103%. A stringent review of business lines and product design, particularly on the life side, with the aim to improve profitability and reduce the group's exposure to...
Companies mentioned in this report are: Allianz SE,Dresdner Bank AG
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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