SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For August 9th 2005
Commission File Number: 1-15154
ALLIANZ AKTIENGESELLSCHAFT
Koeniginstrasse 28
80802 Munich
Germany
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F |_|
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| No |X|
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE
REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-13462) OF ALLIANZ
AKTIENGESELLSCHAFT AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT
IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY
FILED OR FURNISHED.
Allianz AG: 2nd quarter 2005 Results
MUNICH, Germany
Allianz AG: 2nd quarter 2005 Results
Allianz continued the positive trend in the second quarter of 2005. The results
significantly exceed market expectations. Total revenues increased by 6.6
percent from 22.2 billion to 23.7 billion euros. The operating profit (1)
increased by 18.8 percent from 2.00 billion euros to 2.37 billion euros and is
therefore the key driver for net income. It increased by some 65 percent from
846 million (adjusted for goodwill amortization after tax (2)) to 1.39 billion
euros compared to the prior year period. This included lower capital gains,
falling impairments on investments and a lower tax rate.
All business segments contributed to this positive performance. The combined
ratio again improved in Property and Casualty business from 92.1 percent in the
first quarter to 89.8 percent in the second quarter of 2005 (second quarter
2004: 92.8 percent). Life insurance business and Asset Management continue to
show double-digit growth rates for revenues benefiting from the strong demand
for products related to retirement provision and wealth accumulation. A
temporary weakness in the trading result for Banking business was compensated by
cost reduction and a favorable development in loan loss provisions.
Shareholders' equity of the Allianz Group (excluding minority interests)
increased compared with the year-end 2004 by more than 20 percent from 30.0
billion to 36.8 billion euros.
The extensive Interim Report for the 2nd quarter 2005 will be published on
Friday, August 12, 2005.
(1) We define the operating profit as earnings from ordinary activities before
taxation, excluding, as applicable for each respective segment, either all or
some of the following items: net capital gains and impairments on investments,
net trading income, intra-Allianz Group dividends and profit transfer, interest
expense on external debt, restructuring charges, other non- operating
income/(expense), acquisition-related expenses and amortization of goodwill. For
a detailed description on how we measure operating profit and a reconciliation
to profit before taxes and minorities, see analysts' presentation 'Group
financial results Q1 2005', page 33. The document is available to download from
www.allianz.com/ir (2) For a better comparison since goodwill for 2005 is no
longer subject to scheduled amortization
All assessments are as always subject to the following cautionary statements.
Allianz AG
Koniginstr. 28
80802 Munchen
Deutschland
ISIN: DE0008404005 (DAX)
WKN: 840400
Listed: Amtlicher Markt in Berlin-Bremen, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, Munchen und Stuttgart; EUREX; Swiss Exchange;
London; Paris; NYSE
Issuer's information/explanatory remarks concerning this ad hoc announcement:
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements contained herein may be statements of future
expectations and other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to differ
materially from those expressed or implied in such statements. In addition to
statements which are forward-looking by reason of context, the words 'may, will,
should, expects, plans, intends, anticipates, believes, estimates, predicts,
potential, or continue' and similar expressions identify forward-looking
statements. Actual results, performance or events may differ materially from
those in such statements due to, without limitation, (i) general economic
conditions, including in particular economic conditions in the Allianz Group's
core business and core markets, (ii) performance of financial markets, including
emerging markets, (iii) the frequency and severity of insured loss events, (iv)
mortality and morbidity levels and trends, (v) persistency levels, (vi) the
extent of credit defaults (vii) interest rate levels, (viii) currency exchange
rates including the Euro-U.S. dollar exchange rate, (ix) changing levels of
competition, (x) changes in laws and regulations, including monetary convergence
and the European Monetary Union, (xi) changes in the policies of central banks
and/or foreign governments, (xii) the impact of acquisitions, including related
integration issues, (xiii) reorganization measures and (xiv) general competitive
factors, in each case on a local, regional, national and/or global basis. Many
of these factors may be more likely to occur, or more pronounced, as a result of
terrorist activities and their consequences. The matters discussed herein may
also involve risks and uncertainties described from time to time in Allianz AG's
filings with the U.S. Securities and Exchange Commission. The company assumes no
obligation to update any forward-looking statement.
No obligation to update
The company assumes no obligation to update any information contained herein.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ALLIANZ AKTIENGESELLSCHAFT
By: /s/ Dr. Reinhard Preusche
-------------------------
Dr. Reinhard Preusche
Group Compliance
By: /s/ Dr. Giovanni Salerno
-------------------------
Dr. Giovanni Salerno
Group Compliance
Date: August 09th 2005