Entering text into the input field will update the search result below

Allianz SE (AZSEY) Management on Q2 2018 Results - Earnings Call Transcript

Aug. 03, 2018 7:08 PM ETAllianz SE (ALIZY)
SA Transcripts profile picture
SA Transcripts

Allianz SE ADR (AZSEY) Q2 2018 Earnings Conference Call August 3, 2018 9:00 AM ET


Oliver Schmidt – Head of Investor Relations

Giulio Terzariol – Chief Financial Officer


Peter Eliot – Kepler Cheuvreux

Andrew Ritchie – Autonomous

Nick Holmes – Societe General

Thomas Seidl – Bernstein

Farooq Hanif – Credit Suisse

William Hawkins – KBW

Vinit Malhotra – Mediobanca

Rahul Parekh – JPMorgan

Michael Haid – Commerzbank

Johnny Vo – Goldman Sachs

Neel Shah – Credit Agricole

Oliver Schmidt

Thank you, Cecilia. Yes, good afternoon from my side as well, and welcome to our conference call. I’m aware that this call may be the last obstacle between you and a well-deserved vacation, so I keep it brief and hand over directly to Giulio.

Giulio Terzariol

Okay. Good afternoon and good morning to everybody. I’m happy to know I’m an obstacle, okay. And I suggest that we go straight to the presentation. And first, we have a short exhibit about the six months results, and then we will go more in details through the second quarter performance.

If we move to Page three, the first message here is that over the six months, we had a good performance, and we are on track to achieve our targets. When we look at the revenue side, we had an internal growth of about 6%. We clearly see nice growth, double-digit in Asset Management. We also see solid growth on the Life/Health side. But I think the really good news is to see a 6% growth for the 6 months on the Property-Casualty line of business. With respect to the operating profit, we are now, per June, it’s about €5.8 billion of operating profit. You remember that for the year, we have an outlook – midpoint of the outlook of 11.1%. So if you divide 11.1% by 2, it’s slightly north of 5.5%.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.