Global financial services provider Allianz Group has reported a 40% increase in first-half income to €2.7 billion ($2.94 billion) from the corresponding period last year.

Operating profit for the first half of this year rose 22% from the prior corresponding period to €3.9 billion ($4.25 billion), while total revenue for the period rose 12% from last year to €56 billion ($61 billion).

Property-casualty operating profit remained stable for the first half at €1.86 billion ($2.03 billion), while gross written premium grew 2% to €23.9 billion ($26 billion).

Allianz’s life and heath segment recorded a 10% increase in first-half operating profit from the prior corresponding period to €1.5 billion ($1.63 billion), while its asset management segment achieved a 115% increase in half-year operating profit to €982 million ($1.07 billion).

Net income for the second quarter of this year was €1.1 billion ($1.2 billion), down from €1.9 billion ($2.07 billion) in the second quarter of last year, reflecting lower harvesting.

Operating profit for the second quarter of this year was €2.2 billion ($2.4 billion), up 23% from the second quarter of last year, while quarterly revenue grew 15% to €25.4 billion ($27.7 billion).

Allianz SE CEO Michael Diekmann says he’s confident the group “can achieve its operating profit outlook for the year of around €7.2 billion ($7.84 billion), with a fluctuation range of plus or minus €500 million ($544.8 million)”.