Allianz SE (ALIZY) Thursday reported income before taxes of 3.555 billion euros for the first quarter, higher than 3.493 billion euros in the same quarter a year ago, reflecting growth across all segments.
Excluding one-time items, core income before taxes rose to 3.713 billion euros from 3.414 billion euros last year.
Operating profit increased to 4.238 billion euros from 3.986 billion euros in the prior year.
Net income, however, declined to 2.423 billion euros or 6.27 euros per share from 2.475 billion euros or 6.31 euros per share a year ago, primarily impacted by increase in taxes.
Core net income was 2.550 billion euros or 6.60 euros per share , up from 2.513 billion euros or 6.41 euros per share last year.
Total business volume grew 11.7% to 54.014 billion euros from 48.410 billion euros in the previous year.
Looking ahead, the company has confirmed its full-year operating profit outlook of 16 billion euros, plus or minus 1 billion euros.
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