Allianz Q1 P&C profit up 47% as natural catastrophe bill more than halves

12 May 2021

Allianz group profit jumped by 45% in the first quarter to an above-forecast EUR3.3bn ($4bn) as a “marked rebound” in performance in P&C lines drove earnings at that unit up 47% and AGCS swung back into the black.

P&C underwriting: In the P&C segment, the combined ratio improved by 4.8 points to 93%, hitting the full-year target level.

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