Allianz second-quarter profit up 13.5%, better than expected; confirms 2019 target

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Allianz second-quarter profit up 13.5%, better than expected; confirms 2019 targetGerman insurer Allianz on Friday posted a better-than-expected 13.5% rise in net profit in the second quarter from a year earlier and confirmed its full-year profit target. Net profit of 2.265 billion euros ($2.51 billion) compared with the 2.03 billion euro profit forecast by analysts in a Refinitiv poll and is up from 1.995 billion euros a year ago. Results were helped by a one-off effect in Allianz's life and health division, namely the deferring of expenses incurred for new or renewed policies in the U.S.


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