This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Allianz Australia Continues Strong Growth And Profitability In 2012

SYDNEY, Feb. 24, 2013 /PRNewswire/ --  Allianz Australia grew by a solid 10.7% in 2012 compared to 2011 to a record Gross Written Premium of AU$3.74 billion[1].

Profit for the year improved to AU$490 million, up from AU$420 million in 2011.

Commenting on the results, Managing Director, Niran Peiris, said, "Allianz Australia continues to record strong year-on-year organic growth. Premium growth was seen across all of our distribution channels and came from a combination of growth in policy numbers and premium rates. The results in 2012 were assisted by more benign weather than 2011, which was one of the worst years on record for natural catastrophes in Australia."

Allianz's performance was underpinned by an improved Combined Operating Ratio, which reduced to 95.1% in 2012 from 97.6% in 2011.

"Our strong focus on customer service and disciplined underwriting has meant our premium growth has been accompanied by a continued solid profit performance. Allianz Australia continues to make a positive contribution to the performance of our parent company, Allianz SE, and the credit for this rests with our dedicated employees and the support of our business partners," Mr Peiris said.

[1] The figures in this release are based on International Financial Reporting Standards (IFRS) for consistency with figures contained in financial results released by Allianz SE. Care should be taken in making direct comparisons between IFRS-based figures and those of other Australian insurers which may be prepared on an Australian Generally Accepted Accounting Principles (AGAAP) basis.

Media enquiries

Nicholas ScofieldAllianz Australia+61-2-9390-6596+61-416-088-414

SOURCE Allianz Australia
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs