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Weather events reduce Allianz's Q2 P&C global profits by 37%

stormy-weather-2016

German giant Allianz's second quarter 2016 global property and casualty operating profits declined 37% to €1.1bn (£933m) compared with €1.75bn in Q2 2015.

Allianz blamed a strong increase in claims from natural catastrophes as well as higher large and other weather-related losses. Allianz had large payouts as a result of floods and storms in Europe, the

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