Allianz: solid Q1; 2018 targets reinstated
(CercleFinance.com) - On Tuesday morning Allianz reported Q1 2018 net income, group share that is up 6.
8% at 1.9 billion euros.
In particular, the German insurer explains this increase by improvements in its investment income, restructuring costs and a favourable tax effect.
Revenues also increased, albeit more slowly (+0.7%) compared to Q1 2017, to 36.5 billion euros. However, group operating profit fell by 6% to 2.8 billion euros, due to unfavourable FX factors.
Finally, its combined ratio also improved, rising 0.8% to 94.8%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
8% at 1.9 billion euros.
In particular, the German insurer explains this increase by improvements in its investment income, restructuring costs and a favourable tax effect.
Revenues also increased, albeit more slowly (+0.7%) compared to Q1 2017, to 36.5 billion euros. However, group operating profit fell by 6% to 2.8 billion euros, due to unfavourable FX factors.
Finally, its combined ratio also improved, rising 0.8% to 94.8%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.