World Business Briefing | Europe: Germany: Strong Results at Insurer
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Allianz, the European insurer, said fourth-quarter profit rose 57 percent, helped by a tax gain and fewer claims from natural disasters. Income rose to 1.37 billion euros ($1.8 billion), or 3.15 euros a share, from 872 million euros, or 2.13 euros, in the period a year earlier. Lower costs helped increase profit as revenue declined 1.5 percent, to 24.8 billion euros.
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Companies in Germany's key manufacturing sector saw a rebound in orders in July, buoyed by strong demand for German-made goods both at home and abroad, official data showed.
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Munich Re, the world's biggest reinsurer, said it was back in the black last year, when it ran up net profit of around 1.8 billion euros (2.3 billion dollars) compared with a bottom-line loss of 400 million euros the previous year.
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SAP, the world's leading maker of business software, said a strong performance of its European activities helped boost earnings in the third quarter, which came out higher than analysts' expectations.
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Investor confidence in Germany, Europe s largest economy, increased for a second month in January after the cost of oil declined and the dollar s recovery against the euro reduced concern about slowing export ...
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Aviva, the biggest British insurer, said sales of its worldwide life and pensions rose by 7.0 percent to 1.84 billion pounds (2.64 billion euros, 3.37 billion dollars) in the nine months to September, as it looked to further expand operations in Asia.
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Reinsurer Munich Re AG said Wednesday it expects to post a bigger profit in 2007 than last year, beating its previous target of more than $5.17 billion.
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The euro edged higher in European morning trade on Friday as Germanyâs influential IFO survey beat expectations. The index of business sentiment rose to 96.2 in December, the highest
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German industrial gas giant Linde said Friday that bottom-line profits more than trebled last year, thanks to windfall gains from divestments, but also to a strong underlying performance.
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Zurich Financial Services AG, Switzerland s biggest insurer, said second-quarter profit climbed 13 percent amid lower claims and higher investment income.
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MUNICH, Germany : German business confidence braved surging oil prices and the strong euro to remain stable in October, a widely watched barometer of industrial confidence in the eurozone's biggest economy ...
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but the UK has emerged as the company&#39;s strongest European market, reports the Sunday Times. The Sunday Times Business section yesterday published
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European equity markets were higher on Monday, driven by a combination of firm results, broker upgrades and reports of bid activity.
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Cable &amp; Wireless spearheaded a strong performance from the telecommunications sector after a leading broker said the recovery at its UK business was &quot;more than on track&quot;.
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Europe's main stock exchanges advanced on Thursday, with the auto sector in the driving seat in Germany despite widespread credit market concerns, dealers said.
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Volkswagen, the German carmaker, shrugged off broader equity market losses on Tuesday after reporting strong full-year results.
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Banks and insurers pushed European shares higher on Wednesday, with Britain&#39;s HBOS spearheading the gains on relief it would not be wading into a bidding war for domestic banking peer Abbey.