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Allianz Q3 net income beats forecast, Pimco sees inflows (REUTERS)
Europe's largest insurer Allianz posted a forecast-beating rise in third quarter net income due to good performance across its business classes, and said U.S. bond fund manager Pimco saw inflows for the first time in over three years.
Allianz Looking Forward to Good Year-End, Says Wemmer (BLOOMBERG)
Allianz SE, Europe’s biggest insurer, said third-quarter profit rose 36 percent, helped by higher earnings at the life and health insurance unit. Net income increased to 1.86 billion euros ($2.03 billion) from 1.36 billion euros in the year-earlier quarter, the Munich-based company said in a statement on Friday.
Allianz’s Pimco Posts First Inflows Since 2013 (THE WALL STREET JOURNAL)
Allianz SE said Friday its U.S. fund manager Pacific Investment Management Co. achieved its first net asset inflows in three years, as the German insurer reported a strong rise in third-quarter net profit on low disaster costs and strong improvements in life and health insurance.
Allianz reports first inflows at Pimco since 2013 (FINANCIAL TIMES)
Allianz said Pimco, its US bond fund management business, clocked its first quarterly inflows since 2013 in the third quarter, as clients added €4.7bn. The positive performance at Pimco was revealed in Allianz’s third quarter results, which showed net profit at the German insurer rose 36.5 per cent year on year to €1.9bn although revenues edged up just 0.5 per cent to €27.7bn.
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