Allianz sees over 20% rise in third quarter operating profit
Allianz | November 09, 2018
Thanks largely to its property-casualty business, major insurer Allianz enjoyed a 20.6% rise in operating profit in the third quarter of 2018. From €2.5 billion in the same period last year, the group’s operating profit climbed to €3 billion, with the Germany-headquartered firm citing factors such as strong premium growth and lower natural catastrophe claims. Its property-casualty unit also reported better underlying claims development and a decreased expense ratio.