FRANKFURT (Reuters) – Allianz said it expected operating profit of slightly more than 9.7 billion euros ($13 billion) in 2013, edging over the top of its own target range and in line with analysts' expectations.
Europe's biggest insurer on Friday posted third-quarter operating profit of 2.52 billion euros, in line with analysts' expectations, helped by an improvement in property-casualty insurance, while volatile markets hurt performance in life-health insurance and asset management.
“The global low interest rate environment and market volatility will continue to negatively impact Allianz's risk profile through our business development, asset values and the value of our liabilities,” the company said.
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