Allianz P&C profits sink following ‘costliest year ever’
Allianz saw claims of €1.1bn (£970m) from natural catastrophes last year, as the company described it as “the costliest year ever for the insurance industry”.
The company’s property and casualty business saw operating profit fall by 7.5% from €5.46bn in 2016 to €5.05bn last year.
However, the group’s operating profit edged up slightly to €11.09bn from €11
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