Profits rise 23% at Allianz in Q2

German (re)insurer Allianz reported a 23.0 percent rise in Q2
group operating profits to EUR2.9bn ($3.4bn) from the corresponding
result a year before, based on preliminary figures.
The carrier said that in the P&C insurance segment,
operating profits grew by 28.0 percent to EUR 1.4bn as the combined
ratio shed 2.7 percentage points to 93.7 percent for the second
quarter.
This was partly due to a lower level of catastrophe losses,
which added only 1.0 point to the combined ratio...