Allianz Q2 Net Income Rises; Affirms FY Operating Profit Outlook

(RTTNews) - Allianz reported second quarter net income to shareholders of 2.8 billion euros, up 13.1% from last year. Operating profit increased 12.2 percent to 4.4 billion euros. Shareholders' core net income rose by 17.3 percent to 3.0 billion euros. Adjusted for the 0.3 billion euros disposal gain on the UniCredit Joint Venture, shareholders' core net income increased 7.1 percent. Core earnings per share was 7.39 euros compared to 6.15 euros. Total business volume was up 8.01 percent to 44.5 billion euros.

First half core earnings per share was 13.99 euros compared to 12.57 euros, an increase of 11.3 percent. Adjusted for the one-off tax provision and disposal gain, core earnings per share rose 7.9 percent. Total business volume expanded to 98.5 billion euros from 91.0 billion euros, an internal growth of 10.1 percent, with particular strong growth in Life/Health segment.

Allianz said it is fully on track to achieve full-year outlook of an operating profit of 16.0 billion euros, plus or minus 1 billion euros.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.