A.M. Best Comments on Allianz's 2004 Results.OLDWICK, N.J. -- A.M. Best Co. has commented that all ratings of Allianz Allianz SE[1], (ISIN: DE0008404005; IPA pronunciation: [alli-anz], and formerly AG) is a large financial service provider headquartered in Munich, Germany. Aktiengesellschaft (Allianz) (Germany) remain unchanged following the announcement of a post-tax profit of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.2 billion. The reported level of profit is in line with the year-end results factored within the existing ratings. (See related press release of 14th September 2004). The outlook for all ratings remains negative. Allianz has made significant progress in improving its operating performance, most notably in property/casualty business where the combined ratio reduced to an excellent 92.9% in the fourth quarter of 2004 (A.M. Best expectations approximately 95%), and at Dresdner Bank Dresdner Bank AG is one of Germany's largest banking corporations and is based in Frankfurt. History 19th century Dresdner Bank was established on 12 November 1872 through the conversion of financial institution Michael Kaskel. , which achieved an overall small profit compared to a loss in the previous year. The company continues its efforts to achieve sustainable profitability in 2005 and further improvements in earnings could trigger a reassessment Reassessment The process of re-determining the value of property or land for tax purposes. Notes: Property is usually reassessed on an annual basis. You may request a "reassessment" if you disagree with your assessment. of this outlook. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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