Allianz Raises Full Year Outlook After Strong Quarter
German insurer Allianz raised its full year operating profit guidance after reporting a third quarter net profit of 2.784 billion euros that beat analyst expectations. Strong performance in the asset management and property casualty divisions supported the results.
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Allianz SE raised its full-year operating profit outlook to €18.6B on Thursday morning after reporting a third-quarter net profit of €2.784B ($3.08B). The profit figure fell 2% year-on-year in Germany, yet topped the €2.506B consensus forecast. Investors gain confidence as asset management divisions offset broader market pressures.
