Allianz profit tumbles on EUR2.6bn investment losses
Global insurer Allianz maintained a stable P&C insurance result in the third quarter but total investment losses of EUR2.6bn reduced the group's quarterly net profit to EUR258mn, down by more than EUR1bn year-on-year.
Allianz took EUR1.2bn in non-operating losses across all business segments. This was largely due to reverses on financial sector stocks but also included a EUR198mn additional write-down on Greek sovereign bonds.
However the group's operating profit remained more stable, down 7.3 percent year-on-year to EUR1.9bn due to...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
