February 25, Europe's largest insurance groups - the Allianz Group of Germany announced the latest financial report said that the Group 2007 total revenue, operating profit and net income have increased over last year. Among them, life insurance and health insurance and asset management business achieved profit growth, property insurance and accident insurance operating profits continue to maintain strong growth momentum.
Data show that in 2007, the Allianz Group's total revenue from last year's 101.1 billion euros rose to 102.6 billion euros, by 2006 natural disasters grade lower than perennial factors, operating profit increased to 10 billion euros from 10.9 billion euros, an increase of 9 Percent, from 7 billion euros net income soared by 13.5 percent to 8 billion euros.
The Allianz Group CEO Michael Diekmann told reporters: "Despite the financial market environment last year, very challenging, but the Allianz Group through the diversification of individual markets and fluctuations in the field of accidents and the ability to resist Has become increasingly strong. "
It is worth noting that the credit asset-backed securities products (ABS) the impact of trading losses, the Allianz Group's investment banking part of the business performance. Data show that the Allianz Group in the ABS transactions on the loss of at least 1.3 billion euros, resulting in the cost of investment banking business from the 2006 yield of 79.7 percent rose to 89 percent.
Allianz Insurance Group Chief Financial Officer Helmut Perlet said in addition to investment banking part of the business of credit by the impact of the crisis, other banking business is operating well. He stressed: "We are concerned about the long-term investment in capacity and value of creativity, and believe that our banking business will be to achieve this requirement."
As the Allianz Group and the CITIC Trust limited liability company in China joint-venture subsidiary, in the Dean of the Life Insurance Company Limited last year, business has maintained a rapid growth in a stable. The latest data show that in 2007, the company completed the total premium income of 3 billion yuan more than last year growth of more than 150 percent. Their bank insurance channel in the country all foreign life insurance companies ranked second, the annual growth rate reached 200 percent.
Data show that in 2007, the Allianz Group's total revenue from last year's 101.1 billion euros rose to 102.6 billion euros, by 2006 natural disasters grade lower than perennial factors, operating profit increased to 10 billion euros from 10.9 billion euros, an increase of 9 Percent, from 7 billion euros net income soared by 13.5 percent to 8 billion euros.
The Allianz Group CEO Michael Diekmann told reporters: "Despite the financial market environment last year, very challenging, but the Allianz Group through the diversification of individual markets and fluctuations in the field of accidents and the ability to resist Has become increasingly strong. "
It is worth noting that the credit asset-backed securities products (ABS) the impact of trading losses, the Allianz Group's investment banking part of the business performance. Data show that the Allianz Group in the ABS transactions on the loss of at least 1.3 billion euros, resulting in the cost of investment banking business from the 2006 yield of 79.7 percent rose to 89 percent.
Allianz Insurance Group Chief Financial Officer Helmut Perlet said in addition to investment banking part of the business of credit by the impact of the crisis, other banking business is operating well. He stressed: "We are concerned about the long-term investment in capacity and value of creativity, and believe that our banking business will be to achieve this requirement."
As the Allianz Group and the CITIC Trust limited liability company in China joint-venture subsidiary, in the Dean of the Life Insurance Company Limited last year, business has maintained a rapid growth in a stable. The latest data show that in 2007, the company completed the total premium income of 3 billion yuan more than last year growth of more than 150 percent. Their bank insurance channel in the country all foreign life insurance companies ranked second, the annual growth rate reached 200 percent.
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