Reuters logo
Allianz pencilled in 100 mln eur storm cost -CFO
November 8, 2013 / 10:12 AM / 4 years ago

Allianz pencilled in 100 mln eur storm cost -CFO

FRANKFURT, Nov 8 (Reuters) - Allianz has pencilled in 100 million euros ($134 million) in expected damage claims from wind storm Christian, which hit Europe late last month, Chief Financial Officer Dieter Wemmer told a conference call with journalists on Friday.

Allianz said earlier that damage from Christian plus a review of product strategy in Korea and investments in its consolidation of IT centres might crimp operating profit by 100 million to 400 million euros in the fourth quarter.

Depending on how these effects turned out, fourth quarter operating profit could be below the 2.2 billion seen in the final quarter of 2012, Wemmer said.

$1 = 0.7472 euros Reporting by Jonathan Gould, Editing by Thomas Atkins

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below