Allianz maintains its objectives despite the catastrophes

The German insurance group Allianz has confirmed its annual profit target of 8 billion EUR (11.6 billion USD) in 2011 despite the successive natural catastrophes that have fallen on the group since the beginning of the year.

These catastrophes amount to 750 million USD (1 billion USD) in the first quarter, 320 million EUR (466 million USD) of which for the tsunami and the earthquake in Japan.
In the first quarter of the year, the operating profit amounted to 1.7 billion EUR (2.4 billion USD). Quarterly net profit reached 900 million EUR (1.3 billion USD) against 1.6 billion EUR (2.3 billion USD) a year earlier, that is, a decline of 44%.

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