UPDATE 3-Life insurance helps Allianz to strong Q3, stock up

* Q3 operating profit 1.93 bln euros, vs forecast 1.80 bln

* Operating profit in property-casualty falls 18 percent

* Allianz declines to give outlook due to uncertainty

* No acquisitions, no capital increase planned - CFO

* Shares up 5.7 pct; leads DAX, outpacing sector index

(Adds fresh analyst comment, detail, background)

By Jonathan Gould

FRANKFURT, Nov 9 (Reuters) - Allianz (ALVG.DE) unveiled forecast-beating quarterly earnings on the back of strong performances in life insurance and asset management, boosting its shares by more than 5.5 percent.

Europe's biggest insurer said it was well positioned to take advantage of improvements in the economy after posting a 23 percent rise in operating profit in the third quarter.