Allianz Austria’s Profits Jump

Professional ServicesInsurance ♦ Published: March 4, 2011; 01:20 ♦ (Vindobona)

The result of the German insurance group in Austria was able to increase despite premiums falling by 2.9% to € 53.7m.

Allianz Austria’s Profits Jump / Picture: © Allianz

The profit from ordinary activities (POA) increased by one-third, showing that even in difficult times profits may be attained. "All signs point to growth, we will reach the pre-crisis levels in 2011", said CEO Wolfram Littich.

In the property-casualty area, gross earned premiums decreased slightly from € 848.3m to € 841.8m. Premiums written, which are considered a leading…