allianz confident despite profit slide in q1
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Allianz confident despite profit slide in Q1

Egypt Today, egypt today

Egypt Today, egypt today Allianz confident despite profit slide in Q1

German insurance giant Allianz shrugs off market volatility and low interest rates to confirm its full-year forecasts
Frankfurt am Main - AFP

German insurer Allianz said Wednesday that it took a hit on its bottom line in the first quarter but said it was still confident of achieving its target of stable underlying profits for the whole year.  

Allianz said in a statement that its net profit fell by 15 percent to 1.8 billion euros ($2.0 billion) in the period from January to March.

But that was largely attributable to the fact that the year-earlier figure had been inflated by one-off gains from the sale of financial stakes, the insurer explained.

Underlying or operating profit in the three-month period rose by 9.4 percent to 2.9 billion euros on the back of a 2.5-percent increase in revenues to 36.2 billion euros.

Allianz also pointed to "claims stemming from large losses and natural catastrophes" in the first quarter that had weighed on its property and casualty insurance division.

"Despite market volatility and low interest rates, we confirm our outlook and continue to expect an operating profit for the full year of 10.8 billion euros, plus or minus 500 million euros" said chief executive Oliver Baete.

source: AFP

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

allianz confident despite profit slide in q1 allianz confident despite profit slide in q1



GMT 17:08 2018 Sunday ,23 September

Cooking With Mark: Puy lentil lasagne

GMT 15:55 2018 Tuesday ,04 September

Messahel leads Algerian delegation to 7th conference

GMT 10:10 2011 Tuesday ,26 July

40 U.S citizens get Cuban medical degrees

GMT 19:31 2017 Monday ,13 March

Pope to head to Colombia September 6-11: Vatican

GMT 15:58 2017 Saturday ,25 March

Trump Urges Vote on Health Care Act

GMT 12:04 2018 Sunday ,21 January

S.Africa's ANC vows change as Zuma exit looms

GMT 05:54 2011 Sunday ,09 October

Jackson children at memorial gig

GMT 05:41 2011 Friday ,16 December

Possibly the world’s smallest pick-up truck

GMT 14:45 2016 Wednesday ,28 September

Breakups are in the air: Naomi Watts, partner split

GMT 22:41 2017 Thursday ,27 April

Over 14.6 Million Outpatient Visits in 2015

GMT 18:51 2017 Monday ,06 February

Snow alert: Heavy winds lash UAE

GMT 19:26 2018 Sunday ,25 November

Aleppo attack aimed at disrupting settlement in Syria

GMT 12:22 2018 Monday ,19 November

Steinmeier begins three-day visit to South Africa

GMT 07:24 2018 Thursday ,08 November

Justin Trudeau apologizes to Jewish refugees

GMT 06:15 2011 Sunday ,11 December

Egypt qualify for Olympic Games

GMT 07:41 2011 Wednesday ,07 September

Chinese business school opens overseas office

GMT 04:26 2016 Wednesday ,28 December

Hamdan bin Mohammed instructs Dubai Government

GMT 19:06 2017 Tuesday ,31 January

Chad's Moussa Faki Mahamat Elected AU Chairman

GMT 21:45 2017 Saturday ,28 January

Unity is cornerstone of India's strength
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday