Allianz posts drop in revenues but rise in profit for 2016
Operating profit in its property and casualty division fell 4.2% for the year.
Allianz has revealed total revenues of €122.4bn [£104.42bn] for the year ended 31 December 2016, down from €125.2bn in 2015.
Looking at quarterly figures, revenue for the group was up slightly in the fourth quarter to €30.0bn, compared to €29.7bn in the same three-month period of the preceding year.
Profit for 2016 was up by 4% to €6.9bn [2015: €6.6bn], while profit for Q4 rose by 23% to €1.7bn in 2016 [Q4 2015: €1.4bn].
Share buy-back
The provider stated that it is also set to launch a 12
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