11/9/2018, 7:13 AM (Source: TeleTrader)
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Chart for: ALLIANZ SE NA O.N.

Allianz EPS up 29% to €4.54 in Q3

Allianz SE announced on Friday its diluted earnings per share (EPS) for the third quarter of the year stood at €4.54, marking a 28.8% jump compared to the same three month period a year ago. The German financial services giant added that net income attributable to shareholders surged 23.6% to €2 billion during the three month period.

Total revenues rose 7.9% to €30.5 billion, while internal revenue growth, which adjusts for currency and consolidation effects, stood at 9.8%, with all business segments recording strong growth. Operating profit grew 20.6% annually to €3 billion, with the Property Casualty business providing the largest contribution as a result of lower claims from natural catastrophes, a better underlying claims development and a decreased expense ratio, as well as strong premium growth.

For the nine months to September, Allianz achieved an operating profit of €8.7 billion, up 4.8% year on year, while diluted EPS rose by 11.5% to €13.36 during the same period. "During the first nine months of 2018 Allianz showed a strong performance across the board, now also supported by substantial productivity gains," CEO Oliver Baete stated.

Breaking the News / NP