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Allianz: H1 earnings down over 50%, OP resists

( - Allianz has reported a 53% drop in net income, group share, to 2.
3 billion euros, weighed on by a provision linked to the Alpha structured funds case in the United States. However, its operating profit edged up 1% to 6.7 billion euros.

The German insurer's revenues rose by 7.2% to 81.2 billion euros, including a 12.1% increase in P&C insurance, 3.2% in life and health insurance and 6.4% in asset management.

Saying that it is well placed to manage the impact of high inflation and the economic pressures that are particularly evident in Europe, Allianz confirms that it expects a 2022 operating profit of 11.4 to 13.4 billion euros.

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