Insurer: Allianz raises forecast – record profit after nine months
The insurer benefited from strong business in asset management. In contrast, property and casualty insurance was hit by higher losses from natural disasters.
The Allianz has raised its profit forecast for the current year, now expecting an operating result of up to 18.6 billion euros. This is an increase from its previous forecast of 16.4 to 18.4 billion euros. In the first nine months of the year, the company's operating profit reached a record 14.1 billion euros, surpassing analyst expectations of 13.7 billion euros. The Allianz will release its full business figures for the first three quarters on Thursday.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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