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Allianz Q3 net profit down on catastrophe-related claims
November 9, 2017 / 9:07 PM / a month ago

Allianz Q3 net profit down on catastrophe-related claims

FRANKFURT, Nov 9 (Reuters) - The German insurer Allianz said on Thursday that it posted a 17.3 percent decline in net profit in the third quarter as a spate of natural catastrophes increased claims and weighed on earnings.

The profit of 1.6 billion euros ($1.86 billion) was in line with expectations. Analysts forecast a net profit of 1.549 billion euros, according to a Reuters poll.

It also announced a new 2 billion euro share buy-back program. ($1 = 0.8590 euros) (Reporting by Tom Sims; Editing by Arno Schuetze)

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