Allianz Net Income Soars 83 Percent

August 8, 2017 by Cyril Tuohy

Second-quarter net income at Munich-based Allianz SE soared 83 percent to 2 billion euros from a year-ago, boosted by profits generated from the company’s life and asset management segments, the company reported Friday.

Revenue rose 2 percent to 30 billion euros, the global life, health and property-casualty insurer also reported. A euro is worth $1.18 as of today.

In a low-interest-rate environment, higher profits are coming courtesy of capital-efficient products such as variable annuities without income guarantees, hybrid variable annuities and fixed indexed annuities, company executives said.

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Originally Posted at InsuranceNewsNet on August 7, 2017 by Cyril Tuohy.