Allianz operating profit declines in first quarter
Preliminary figures released by Allianz Group reveal a 41% decline in first-quarter operating profit of €1.3 billion ($2.4 billion).
The German insurer expects total revenue of €27.7 billion ($50 billion), slightly up on the €27 billion ($49 billion) it earned in the same period last year.
Allianz has confirmed charges from the sale of Dresdner Bank will amount to €400 million ($728 million), while the insurer has a solvency ratio of about 158%.
The company is due to publish its full first-quarter earnings next month.
The German insurer expects total revenue of €27.7 billion ($50 billion), slightly up on the €27 billion ($49 billion) it earned in the same period last year.
Allianz has confirmed charges from the sale of Dresdner Bank will amount to €400 million ($728 million), while the insurer has a solvency ratio of about 158%.
The company is due to publish its full first-quarter earnings next month.