FRANKFURT: Germany’s Allianz on Wednesday posted a 52% rise in first-quarter net profit, in line with expectations and lifted by the sale of stakes in joint ventures in India.
The insurance company said it saw strength in its property and casualty division and at its asset management businesses, and confirmed that it was on track to meet its full-year target.
Net profit attributable to shareholders of 3.690 billion euros ($4.33 billion) in the three months through March compares with profit of 2.423 billion euros a year earlier. Analysts had expected a 3.654 billion euro profit, according to a consensus forecast.
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