FRANKFURT: German insurer Allianz said it was undertaking a raft of productivity initiatives that would boost annual earnings per share by 5 percent on average until 2018.
"The group will target a total return on equity (RoE) by 2018 of 13 percent, adjusted to exclude unrealized capital gains and losses on bonds and other items," Allianz said in a statement ahead of its capital markets day on Tuesday.
Chief Executive Officer Oliver Baete has spent much of this year out of the public spotlight, honing strategies to boost growth, profit and the share price.
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