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Allianz Says to Beat Own 2013 Operating Profit Target

Allianz said it expected operating profit of slightly more than $13 billion in 2013, edging over the top of its own target range and in line with analysts' expectations.

By Reuters | Updated on November 08, 2013

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.

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