Allianz Group has reported that its total revenues for fiscal 2007 increased to E102.6 billion from E101.1 billion in 2006.
In 2007, operating profit of the group climbed by 9% to E10.9 billion, from E10 billion adjusted for the below-normal NatCat level in 2006. Net income for the period rose by 13.5% to E8 billion from E7 billion in 2006.
All business segments of Allianz Group have contributed to the successful overall results. However, parts of the investment banking business were significantly impacted by the credit crisis. Both life and health insurance and asset management generated profitable growth, while operating profit in property and casualty insurance remained strong.
Michael Diekmann, CEO of Allianz, said: Despite challenging conditions in 2007, we were able to further improve our operating efficiency and profitable growth, and to achieve a record result for the year.