FRANKFURT, March 15 Allianz expects
net income to remain stable or increase slightly this year
compared to the previous year, it said in its annual report
published on Friday.
Europe's biggest insurer said it did not want to give a
precise estimate for net profit due to uncertainties over
interest and exchange rates as well as possible capital market
ructions that could hit non-operating income.
"However, since our outlook presumes no major disruptions of
capital markets, we nevertheless expect a stable or slightly
increasing net income for 2013," the report said.
The insurer posted net profit of 5.2 billion euros ($6.75
billion) for 2012.
Allianz officially targets operating profit, where it
expects to earn 9.2 billion euros, plus or minus 500 million
euros depending on how uncertainties play out, this year.
Operating profit rose 21 percent to 9.5 billion euros in
2012, helped by double-digit growth in its insurance businesses
and a one-third increase in operating profit in asset
management, as euro crisis fears subsided.
($1 = 0.7704 euros)
(Reporting by Jonathan Gould, editing by William Hardy)