5/15/2018, 7:03 AM (Source: TeleTrader)
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Chart for: ALLIANZ SE NA O.N.

Allianz posts operating profit at €2.8B in Q1, down 6% YoY

German-based insurance giant Allianz SE reported on Tuesday its first-quarter operating profit stood at €2.8 billion, falling 6% year over year or €176 million less, including a €142 million negative currency translation effect. The company's total revenues were €36.5 billion in the first quarter of 2018, increasing 0.7% compared to the same period a year ago. Net income attributable to shareholders saw year over year rise of 6.8%, to amount to €1.9 billion.

Insurer's basic Earnings-per-share (EPS) stood at €4.46 in the first three months of 2108, up 11.5% year over year. Internal revenue growth had positive contributions from all business segments, totaling was 4.9%. The company reported its diluted EPS at €4.40, with an annual rise of 10.3%.

"The Allianz Group continued to improve its Life business in the quarter and the segment delivered a strong set of results. The value of new business rose 8 percent. Operating profit was also strong at 1.1 billion euros in the quarter, and we remain successfully on track with our efforts to steer new business toward preferred products," said Giulio Terzariol, Chief Financial Officer of Allianz.

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