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 May 13, 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IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY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.
First quarter financial results
MUNICH, Germany--(BUSINESS WIRE)--May 13, 2005--
Allianz AG: Group Key Figures First Quarter 2005
Allianz Group Key Figures
Euro mil 1Q 2005 1Q 2004
Total revenues (Euro bn) 28.3 27.2
Operating profit 1) 1,830 1,227
- Property/Casualty 1,004 497
- Life/Health 357 371
- Banking 238 179
thereof Dresdner Bank 216 174
- Asset Management 231 180
Profit before goodwill amortization, taxes
and minorities 2,088 1,551
Goodwill amortization 0 -294
Taxes -569 -339
Minorities -335 -301
Net income 2) 1,184 617
- Property/Casualty 753 554
- Life/Health 326 247
- Banking 3) 475 56
thereof Dresdner Bank 3) 466 88
- Asset Management 28 -107
- Consolidation adjustments -398 -133
Earnings per share (Euro) (Basic) 3.13 1.68
Ratios:
- Property/Casualty:Combined ratio 92.1% 95.8%
- Life/Health:Statutory expense ratio 4) 6.6% 9.2%
- Dresdner Bank:Operating cost-income ratio 80.4% 81.4%
- Asset Management:Cost-income ratio 60.9% 66.9%
Euro bn 31.03.2005 31.12.2004
Shareholders' equity 41.6 37.7
thereof minority interests in shareholders' equity 8.0 7.7
Assets under management 1,133 1,070
thereof third-party assets 624 585
1) For a description on how we measure operating profit and a reconciliation to
net income, see interim report, page 2, 10 (Property/Casualty), 13
(Life/Health), 16 (Banking), 19 (Asset Management).The document is available on
the internet page http://www.allianz.com/1Q .
2) Q1 2004 figures have been restated according to IFRS accounting stardards in
accordance with which the amortization of goodwill has not been cancelled.
3) Net income of Dresdner Bank and the banking segment for the first quarter of
2005 shows a realized gain of 233 million euros from the intra-group transfer of
Munich Re shares. This has been eliminated in the consolidation column.
4) Represents ratio of net acquisition costs and administrative expenses to net
premiums earned (statutory).
These assessments are, as always, subject to the disclaimer provided below.
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 duty to update The
company assumes no obligation to update any information contained herein.
WKN: 840400; ISIN: DE0008404005; Index: DAX-30, EURO STOXX 50 Listed: Amtlicher
Markt in Berlin-Bremen, Dusseldorf, Frankfurt (Prime Standard), Hamburg,
Hannover, Munchen und Stuttgart; EUREX; Swiss Exchange; London; Paris; NYSE
Short Name: Allianz AG
Category Code: QRF
Sequence Number: 35785
Time of Receipt (offset from UTC): 20050513T062846+0100
CONTACT: Allianz AG
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: May 13, 2005