Allianz beats forecasts but P&C suffers
Allianz's net income smashed through analyst expectations today (12 May), fuelled by higher-than-expected capital gains.
The German insurance giant posted net income of EUR1.59bn for
the first quarter against an analysts' consensus range of
EUR1.1bn-1.3bn, while quarterly revenues were up 10 percent to
EUR30.6bn.
However, at EUR 1.7bn - a 20 percent improvement on the same period
last year - the group's operating profit was more in line with
expectations, with strong bottom line growth in its life and asset...
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