Allianz 3 Profit Rises; Says Confident Of FY18 Targets – Quick Facts
Financial services company Allianz Group (AZSEY.PK) Friday reported that its third-quarter net income attributable to shareholders increased to 1.94 billion euros from 1.57 billion euros last year.
Earnings per share were 4.54 euros, higher than 3.52 euros a year ago.
Operating profit grew 20.6 percent to 2.99 billion euros from prior year’s 2.48 billion euros, mostly driven by our Property-Casualty business, which experienced lower claims from natural catastrophes, a better underlying claims development and a decreased expense ratio, as well as strong premium growth.
Total revenues increased 7.9 percent to 30.5 billion euros from last year’s 28.3billion euros. Internal revenue growth, which adjusts for currency and consolidation effects, amounted to 9.8 percent and was supported by all business segments.
Looking ahead, the company said it is confident to reach targets also for this year.
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