Germany’s Allianz has today posted a better-than-expected 15% rise in third-quarter net profit, figures that came a day after the insurer gave a rosier outlook for the full year.
Profit was helped by strength in the insurer’s property and casualty business and low losses from natural catastrophes.
Net profit attributable to shareholders of €2.847 billion in the three months to September compares with profit of €2.471 billion a year earlier. The figure surpassed a 42.676 billion consensus forecast.
Late Thursday, Allianz raised its full-year earnings guidance, saying it would “most likely” make operating profit of between €17 billion and €17.5 billion. That compared with a target range set at the beginning of the year of €16 billion, plus or minus €1 billion.
