Allianz Se · XETR:ALV
Allianz — 9M 2001 Earnings Presentation
17 slides from Allianz's earnings presentation, Nov 14, 2001
Slide 1: Group financial results for the first nine months 2001
Group financial results for the first nine months 2001 Analysts’ conference call November 14, 2001 Helmut Perlet
Slide 2: First nine months 2001: key figures and ratios
Group financial results 1-9/2001 First nine months 2001: key figures and ratios in € mn 2000 1-9/2001 Adjusted net income 2,385 1,323 Property/casualty 2,225 1,362 Life/health 641 271 Asset management - 87 - 191 Banking 48 303 EPSReported (€) 14.10 5.40 EPSAdjusted before goodwill depreciation (€) 1
Slide 3: First time consolidation Dresdner Bank
Group financial results 1-9/2001 First time consolidation Dresdner Bank in € bn Allianz share Net asset value Dresdner Bank (30.06.) 14.6 1st Application IAS 39 12.8 Roll forward (23.07.) - 0.7 Adjustment “old” goodwill - 2.1 FV adjustments according to Allianz standards - 1.3 Net asset value Dresdn
Slide 4: Cost reduction program Dresdner Bank
Group financial results 1-9/2001 Cost reduction program Dresdner Bank Key facts § Cost reduction program Dresdner Bank includes old projects (May 2000) and new initiatives § Objective: Reduction of administrative expenses by approx. € 1.3 bn p.a. as of 2003* (around 15 % of administrative expenses 2
Slide 5: Total premiums increased by 8.0 %
Group financial results 1-9/2001 Total premiums increased by 8.0 % in € bn Internal growth Life/health Life/health Property/casualty Property/casualty Allianz Group 54.9 8.0 % 50.9 14.0 % 14.2 % 23.3 7.1 % 21.8 6.4 % 7.6 % 7.9 % 6.2 % 6.0 % 31.6 8.7 % 29.1 3.3 % 3.7 % 1-9/2000 1-9/2001 1-9/2000 2000
Slide 6: P/C premiums: significant growth in all countries
Group financial results 1-9/2001 P/C premiums: significant growth in all countries in € bn Growth in % Total Internal Germany 10.2 3.9 3.9 France 3.9 9.0 9.0 Italy 3.1 7.8 7.8 UK 1.9 20.0 22.0 Switzerland 1.1 10.3 6.9 Austria 0.7 2.7 2.7 USA 4.5 6.8 1.6 Asia-Pacific 1.0 62.4 20.5 Eastern Europe 0.7
Slide 7: P/C loss ratio severely impacted by WTC attack
Group financial results 1-9/2001 P/C loss ratio severely impacted by WTC attack Net income in % 2000 1-9/2001 Combined ratio (in %) 2000 1-9/2001 1-9/2001* Combined ratio 104.9 108.2 SGD (Germany) 97.6 97.7 976 Loss ratio 77.9 80.9 Allianz AG 97.6 119.1 1,431 Expense ratio 27.0 27.3 AGF France 114.1
Slide 8: Impact of WTC losses
Group financial results 1-9/2001 Impact of WTC losses in € bn Impact on loss ratio (in %) WTC losses Property* 1.38 Aviation 0.05 Liability 0.02 Loss ratio 80.9 Others 0.05 WTC impact -5.9 Total 1.50 Loss ratio ex WTC 75.0 7 *) Around half of property claims due to business interruption, according t
Slide 9: L/H premiums: restoring growth
Group financial results 1-9/2001 L/H premiums: restoring growth in € bn Growth in % Total Internal Life Germany 6.2 1.2 1.2 Vereinte Kranken 2.0 4.0 4.0 Italy 3.9 16.2 16.2 France 3.2 - 8.1 - 8.1 Switzerland 1.0 13.1 9.6 USA 3.7 44.4 37.4 South Korea 1.2 4.4 14.4 8
Slide 10: L/H impacted by lower capital gains taking
Group financial results 1-9/2001 L/H impacted by lower capital gains taking 2000 1-9/2001 Net income (in € mn)** Stat. expense ratio 12.1 % 12.4 % Allianz Leben 233 Expense Vereinte Kranken 28 as % of investments 1.55 % 1.17 %* Investment results AGF France 156 as % of investments 6.8 % 3.5 %* Italy
Slide 11: Banking
Group financial results 1-9/2001 Banking in € mn 1-9/2001 Net interest spread 1,055 Net trading income 166 Fees and commission income 550 Administrative expenses - 1,565 Other revenues/costs -124 Operating result 82 Net loan loss provisions - 209 Results from investment securities 1,047 Profit befor
Slide 12: Asset management
Group financial results 1-9/2001 Asset management in € mn 2000 1-9/2001 Reported income after tax and goodwill - 87 - 191 Acquisition related costs 239 277 Goodwill, taxes and minorities 221 236 Operating profit 373 322 Third party assets under management (€ bn) 336 576 thereof Dresdner Bank (€ bn)
Slide 13: Assets under management topped 1,000 bn €
Group financial results 1-9/2001 Assets under management topped 1,000 bn € Assets under Third party (in € bn) Group Investments (in € bn) management (in € bn) Unit-linked 22 (4 %) 1,120 598 Real estate 22 (4 %) Other 37 (7 %) 522 Market value Third party funds Equity 576 (96 %) 114 (22 %) 505 Book v
Slide 14: Investment income of insurance operations
Group financial results 1-9/2001 Investment income of insurance operations in € mn 2,273 12,584 12,260 - 822 - 1,343 - 432 Current Administrative Interest Realized Write downs/ Net earnings expenses expenses gains/losses write ups investment Income Property / casualty 5,179 - 487 - 549 2,284 - 596 5
Slide 15: EPS
Group financial results 1-9/2001 EPS EPS 2000 1-9/2001 EPS adjusted before goodwill (in €) Net income (€ mn) 3,460 1,323 Average number 245,401,507 244,907,793 of shares Earnings per share (€) 14.10 5.40 11.74 Earnings per share 7.62 adjusted (€) 9.72 5.40 2000 1-9/2001 14
Slide 16: Shareholders' equity decreased by € 6.9 bn
Group financial results 1-9/2001 Shareholders’ equity decreased by € 6.9 bn in € bn 6.6 - 5.7 - 0.2 - 0.5 35.6 - 8.4* 1.3 28.7 23.6 unrealized 5.1 gains/losses Equity Capital Own Changes in Currency Change in Net Equity 31.12.2000 increase shares consolidated translation, unrealized income 30.09.200
Slide 17: Disclaimer
Appendix Disclaimer All rights reserved, Copyright 2001 Allianz AG The content and structure of this presentation are protected by copyright. No information (data, text, image or otherwise) contained herein, regardless of the manner in which it is conveyed, may be used or reproduced in whole or in p