allianz-treptowers
Source: Allianz
11 November 2016 Insurance

Allianz Q3 net profit up 36.5% YOY on life and health jump

Germany’s Allianz reported a net profit of €1.9 billion for the third quarter of 2016, up 36.5 percent compared with the same period a year ago.

Total revenues of Europe’s largest insurer and asset manager grew 0.5 percent year-on-year to €27.7 billion.

Life and health, Allianz’s biggest revenue contributor, reported a jump of 53 percent in operating profit to €1.13 billion in the period.

Property/casualty, its second largest revenue contributor, grew its operating profit by 4.3 percent to €1.41 billion compared with the third quarter of 2015.

Its combined ratio in property/casualty in the third quarter was 93.5 percent compared with 94.1 percent in the same period a year ago.

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