Insurance Post

Allianz's global P&C profits fall 12.7% in Q1

Allianz - IAG

Munich-headquartered insurer Allianz saw global property and casualty pre-tax profits decline 12.7% to €1.26bn (£1.01bn) in the first quarter of 2017.

The figure compares with a pre-tax profit of €1.44bn in the same period last year.

Allianz attributed the decrease to a lower underwriting result driven by higher large losses, an increase in claims

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