In its first-quarter report, German multiline insurance company Allianz offered an assessment of the current financial landscape, and offered predictions as to the global market’s affect on insurers. There are certain perils, reports Allianz, but suggests taking a cautiously optimistic view of the future.

The insurer experienced a significant drop in its first-quarter net income (97.5%), which led the company to state that the financial markets "will not be calm in 2009," as "distortions from the boom years have not yet fully worked through," especially in banking, according to an A.M. Best report.

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