Allianz Sticks to 2012 Operating Profit View Despite Sandy
January 15 2013 - 4:35AM
Dow Jones News
By Friedrich Geiger
FRANKFURT--German insurer Allianz SE (ALV.XE) Tuesday confirmed
its operating profit outlook and said it expects Hurricane Sandy to
cost the company $590 million.
That preliminary figure for the storm that hit the U.S. in
October includes payments to customers and related items like
reinsurance reinstatement fees.
"Despite the impact of Hurricane Sandy, we continue to expect
our operating profit for 2012 to exceed 9 billion euros" ($12
billon), said Chief Financial Officer Dieter Wemmer.
Allianz will publish its full-year figures, including those for
2012 natural disasters, on Feb. 21.
Write to Friedrich Geiger at friedrich.geiger@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires