Allianz Q3 Profit Rises; Says On Track To Reach Operating Profit At Higher End Of Target Range

German insurance and asset management company Allianz SE (AZSEY.PK) reported that its third quarter net income attributable to shareholders increased 2.3 percent to 2.1 billion euros from the prior year. The strong growth in operating profit was offset to a major extent by a decrease in the non-operating investment result.

Operating profit grew 11.3 percent year-over-year to 3.2 billion euros, driven by Asset Management and Life/Health business segments.

Total revenues for the third-quarter increased 9.5 percent to 34.4 billion euros from last year.

The company now expects 2021 operating profit to be at the higher end of the target range of 12 billion euros, plus or minus 1 billion euros.

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