ALLIANZ-OWNED BERNER RECORDS FIRST-HALF PROFITS DIP

Allianz-controlled Swiss insurer Berner Versicherung has posted a first-half net profit of SFr8.8m, down 26% from the same period in 2000. Gross premium income was SFr771.6m, down 1.3%. Berner blamed its weakened result on the “lasting downturn” in the world’s stockmarkets and forecast a decline in year-end profits unless there was a “clear improvement” in the sector.