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Allianz second-quarter net profit jumps to €1.32bn
German insurer Allianz reported forecast-beating net profit of €1.32bn (£1.03bn) in the second quarter, up 23 per cent from a year earlier, helped by strong life and health insurance performance.
Quarterly net profit was above the highest forecast of €1.29bn in a Reuters poll.
Europe’s biggest insurer had been expected on average to report quarterly net profit of €1.19bn, up from €1bn in the year-earlier quarter, the poll showed.
Operating profit was €2.36bn in the April to June period, putting Allianz more than halfway toward its 2012 operating profit target of €8.bn, plus or minus €500m. The insurer confirmed the target today.