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Allianz eyes stable or slightly higher 2013 net profit

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(Globalpost/GlobalPost)

German insurance giant Allianz expects its net profit to be stable or slightly higher this year as well as in 2014, according to its annual report published Friday.

The group also said it expected 2014 operating profit to improve compared with 2013, when it is due to reach around 9.2 billion euros ($11.9 billion).

Announcing its annual results last month, the group had only expressed cautious optimism for 2013 and had forecast an annual operating profit of between 8.7 and 9.7 billion euros.

It confirmed the forecast in its annual report and highlighted that it did not give precise outlooks for net income.

"However since our outlook presumes no major disruptions of capital markets, we nevertheless expect a stable or slightly increasing net income for 2013," the report said.

The group reiterated a similar statement in the report concerning 2014.

Last month it announced that its net profit more than doubled last year to 5.169 billion euros as it shrugged off the worst of the financial crisis.

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http://www.globalpost.com/dispatch/news/afp/130315/allianz-eyes-stable-or-slightly-higher-2013-net-profit