Allianz Q1 Net Profit Rises

German company

reported an 11 percent gain in its net profit for the first quarter. Allianz's quarterly net profit climbed to EUR1.82 billion ($2.03 billion), versus a year-ago profit of EUR1.64 billion. Its total revenue rose 11.2 percent to EUR37.8 billion from EUR33.96 billion, while operating profit surged 4.8 percent to EUR2.86 billion from EUR2.72 billion. Third-party assets increased 7.2 percent to EUR1.41 trillion, compared to EUR1.31 trillion at the end of 2014. Allianz shares fell 2.23 percent to close at $16.23 yesterday.