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Specifically, as he announced in Munich on Friday, the sum reached almost 1.3 billion euros (about 1.25 billion Swiss francs); this was almost four times more than a year ago.
Therefore, operating profit decreased by 15 percent to 3.5 billion euros. Analysts were expecting an even steeper decline. In any case, boss Oliver Bäte thinks Allianz is on track to make operating profits of between 13.2 and 15.2 billion euros this year, as planned.
As a result, shareholders achieved a surplus of over two billion euros in the third quarter; This is almost 30 percent less than in the same period last year. At the time, a transfer of assets from the fund’s subsidiary AGI to a business partner boosted profits. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
