Fortune Global 500 2010: The World's Biggest Companies - Allianz - AZ
20. Allianz
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Get Quote: AZ Financials: Latest Results Rank: 20 (Previous rank: 20) The German financial services giant swung to a 2009 profit from a year-ago loss, and its stock jumped 16% (which was still not enough to fully offset its 49% plunge in 2008). Allianz rode a strong performance in its life insurance and asset management units, but struggled within the competitive property and casualty insurance sector, according to CEO Michael Diekmann�s letter to shareholders. Though Allianz shrank its workforce by 16% in the past year, the bulk of the cuts came when the company unloaded its Dresdner Bank unit in 2008. In 2010, Allianz hopes to catch the wave of the Asian market�s recovery by expanding its business there. -- A.K. Subscribe to Fortune Magazine Is Allianz a great company, or what? | ||||||||||||||||||||||
From the July 26, 2010 issue Figures prepared in accordance with International Accounting Standards. |
FAQ and methodology
All companies on the list must publish financial data and report part or all of their figures to a government agency. In the U.S., private companies and cooperatives... More