FRANKFURT (Reuters) -Germany’s Allianz on Thursday posted a better-than-expected 13% rise in second-quarter net profit and confirmed its target for the full year.
Allianz said the earnings were helped by strength at its property and casualty segment and by a disposal gain of around 300 million euros ($350 million) from a joint venture with UniCredit .
Net profit attributable to shareholders of 2.841 billion euros in the three months through June compares with profit of 2.513 billion euros a year earlier. The figure surpassed a 2.756 billion euro consensus forecast.
Allianz said it was “fully on track” to meet its full-year target of operating profit between 15 billion euros and 17 billion euros, compared with 16 billion euros in 2024.
“Allianz has delivered record results in the first half of the year,” Chief Executive Officer Oliver Baete said.
($1 = 0.8570 euros)
(Reporting by Tom Sims and Alexander Huebner, Editing by Miranda Murray, Kirsti Knolle)
