Allianz, instead of buying rival, taps its cash pile for two units

Article Abstract:

Major German insurance company Allianz is buying out its French and German units, Assurances Generales de France and Allianz Lebensversicherungs AG, instead of acquiring a rival company. CEO Michael Diekmann plans to increase profitability, with resulting higher dividends.

Acquisitions & mergers, Management dynamics, Executive changes & profiles, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Management, Officials and employees, Mergers, acquisitions and divestments, France, Company acquisition/merger, Company business management, Assurances Generales de France, Subsidiaries, divisions and units, Diekmann, Michael, Allianz Lebensversicherungs AG

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Allianz increases subprime estimate

Article Abstract:

Second-quarter net profit for German insurance firm Allianz SE dropped 6% to reach $2.95 bil, due mostly to a higher tax rate and lower capital gains. Its exposure to risky US subprime mortgages amounts to approximately 0.16% of the firm's investment portfolio.

Economic aspects, Allianz Aktiengesellschaft Holding, Financial report, Subprime loans

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Prudential PLC's sales grow 11%, but its home market is weak spot

Article Abstract:

Prudential PLC of the United Kingdom posted an 11 percent increase in sales to 664 million Pounds ($1.2 billion) down four percent from last year. Market share for the insurance giant was strong in foreign markets, however weak at home.

Foreign operations, United Kingdom, Prudential PLC, Company overview

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