Allianz profit jumps 9.3% as P&C strengthens

Allianz posted a 9.3 percent gain in fourth-quarter operating
profit as its P&C combined ratio strengthened to 94.0 percent
and asset-management results improved, the company said late
today.
Profit rose to EUR2.8bn ($2.46bn) from EUR2.6bn in the
year-earlier period, the Munich-based company said today, citing
preliminary results. The company said final figures would be
available next month.
The giant insurer and money manager also announced a EUR3bn
stock buyback, targeting about 19mn share