Allianz P&C records double-digit profit growth

Operating profit in Allianz's P&C division grew 12
percent to EUR1.4bn ($1.6bn) in the first quarter of this year,
thanks to a low number of claims and lower restructuring
expenses.
Gross P&C premiums written nudged down 0.5 percent to
EUR17.2bn in the first quarter of 2016, with the fall blamed on
negative foreign exchange effects.
Excluding foreign currency movements, growth would have been 2.7
percent, driven by Allianz Global Corporate & Specialty (AGCS),
Turkey and Germany. Pric