Allianz Q1 Profit Rises

Allianz SE

reported around 60% rise in its first-quarter profit. Allianz's quarterly after-tax profit, including minorities, climbed to above EUR1.4 billion, versus EUR915 million, in the year-ago quarter, based on preliminary figures. Analysts were expecting profit of EUR1.37 billion. Its operating profit surged to above EUR2.3 billion, from EUR1.66 billion, and versus estimates of EUR2.12 billion. Allianz's total revenue topped EUR30 billion, from EUR29.91 billion, and versus estimates of EUR29.79 billion. Allianz's shares closed at $10.35 yesterday.