FRANKFURT (Reuters) -Germany’s Allianz on Friday 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 euros ($3.32 billion) in the three months through September compares with profit of 2.471 billion euros a year earlier. The figure surpassed a 2.676 billion euro 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 euros.
That compared with a target range set at the beginning of the year of 16 billion euros, plus or minus 1 billion.
($1 = 0.8575 euros)
(Reporting by Tom Sims and Alexander Huebner, Editing by Friederike Heine)
