Allianz bullish despite softening market
Allianz Cornhill has increased pre-tax profits to more than £50m, despite a fall in income. Announc...
Allianz Cornhill has increased pre-tax profits to more than £50m, despite a fall in income.
Announcing its first quarter results, ceo Andrew Torrance explained the results as indicative of insurer Allianz's 'profit-driven' approach.
Operating pre-tax profits rose to £50.2m in January to March, an increase on the same period in 2004 of 8%, from £46.5m. Gross general business premium income fell from £463.7m to £434m over the same period however, a fall of 6%.
This left Allianz with a healthy
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