Allianz insurance Despite having large investment units in the U.S. and Europe, Allianz still gets the majority of its income from insurance. (Photo: Bloomberg)

(Bloomberg) – Allianz SE said strong growth across its businesses lifted second-quarter profit as Europe's largest insurer keeps the market waiting on any acquisitions it will undertake.

The gains help keep Allianz on track to meet its full-year earnings targets, Europe's biggest insurer said in a statement on Friday. Assets under management and margins grew at the Munich-based owner of Pacific Investment Management and Allianz Global Investors.

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