FRANKFURT, Germany (AP) — Low losses from natural disasters and higher prices in the key markets of Germany, Turkey and Latin America lifted profits at German insurance company Allianz SE during the first quarter.
But Allianz did not increase its profit outlook for the rest of the year, saying Wednesday that record low interest rates will hold back profits. It also warned that the current low number of natural catastrophes could also change.
Munich-based Allianz maintained its forecast for 9.2 billion euros ($11.9 billion) in earnings, plus or minus 500 million euros. Last year it made 9.5 billion euros.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
