Allianz SE, a leading name in the German financial services sector, announced a robust 22% increase in net income attributable to shareholders for the third quarter, reaching €2.47 billion compared to €2.02 billion in the same period last year. This growth was primarily fueled by a higher operating profit coupled with an improved non-operating result.The core net income available to shareholders ascended to €2.53 billion, reflecting a 23% surge from the previous €2.06 billion. Consequently, core earnings per share strengthened significantly by 25%, up to €6.54 from €5.22 in the prior year.The operating profit exhibited a commendable 13.6% rise, amounting to €3.9 billion. This increase can be largely attributed to enhanced performance in the Property-Casualty and Life/Health segments.Moreover, the total business volume saw a notable growth of 17.3%, reaching €42.8 billion from last year’s €36.5 billion. This expansion was undergirded by continuous momentum across Allianz’s insurance segments. After adjusting for currency and consolidation variables, the internal growth stood at 19.1%.Looking forward to fiscal 2024, Allianz anticipates achieving results in the upper half of its previously disclosed outlook, encouraged by the robust performance during the first three quarters of this year. Specifically, the company projects that its 2024 operating profit will settle in the upper half of its target range of €14.8 billion, with a margin of plus or minus €1 billion.The material has been provided by InstaForex Company – www.instaforex.com
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