Insurance company Allianz SE says net profits shot up more than 50 percent to (euro) 1.4 billion in the first quarter compared to a year ago as claims from natural disasters fell.
Earnings a year ago were (euro) 915 million, when the company reported (euro) 737 million in payouts for the insured damage from the earthquake and tsunami in Japan, a cyclone in Australia and the earthquake that devastated Christchurch, New Zealand.
It said Wednesday that revenue was over (euro) 30 billion compared to (euro) 29.9 billion a year ago. CEO Michael Diekmann affirmed the company’s earnings forecast for the year.
The company will release more detailed earnings on May 15.
Was this article valuable?
Here are more articles you may enjoy.