You are here: Home » News » Industries » Text

Allianz Group Has Reported a 6.3% Rise in Net Profit to More Than 1.4bn in Q3 of 2013

放大字体  缩小字体 Release date:2016-11-30  Views:221
Core Tip: Allianz Group, a Germany-based insurance provider, has reported a 6.3% rise in net profit to more than €1.4bn in the third quarter of 20

Allianz Group, a Germany-based insurance provider, has reported a 6.3% rise in net profit to more than €1.4bn in the third quarter of 2013 compared with a year ago period.

The profit increase was driven by the insurer's property and casualty as well as life and health divisions.

For the period from July to September, net revenues dropped 0.2% to €25.1bn, compared with €25.2bn a year ago.

Despite storms in Europe in July and August, operating profit in Property and Casualty insurance increased.

Gross premiums written decreased 6.5% to €10.7bn, compared with €11.4bn in the previous year. Operating profit increased 6.4% to more than €1.2bn.

Statutory premiums in Life and Health insurance segment rose to €12.7bn from €11.9bn, driven by strong demand especially in Germany and Italy. Operating profit decreased 5.6% to €769m from €815m a year ago.

Asset Management unit operating revenues reached €1.7bn, while operating profit fell 11.1% to €754m, compared €848m in the last year.

Allianz CEO Michael Diekmann said, "Given the positive development of the Allianz Group for the first nine months of 2013, we now expect our operating profit for the full year to be slightly above 9.7 billion euros, the upper end of our previously stated target range." 

 
 
[ NewsSearch ]  [ Add to Favorites ]  [ Tell a friend ]  [ Print ]  [ Close the window ]

 
Total0bar [View All]  Related Comments

 
Recommended Graphic
RecommendNews
Click Ranking