Allianz records higher profits in Q2

It was mainly driven by life/health and property-casualty business segments.

Insurance provider, Allianz, recorded a 7.1% increase in its operating profits to EU3.8b in the second quarter, attributing it to the performance of life/health and property-casualty business side.

For the six months to end of June, profit also surged 14.9% to EU7.5b.

Likewise, total business volumes saw a rise of 5.9% to EU39.6b. The six-month period saw a 4.8% increase to EU85.6b.

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Core net income attributable to shareholders jumped 22.9% to EU2.5b in the second quarter. Meanwhile, January to June almost doubled to EU4.7b.

For the year, the insurer targets an operating profit EU14.2b, playing around a growth or contraction of EU1b.