NU Online News Service, May 13, 2:50 p.m. EDT–German insurance giant Allianz AG reported a 33 percent boost for its quarterly profit, bolstered by improvements in its property-casualty insurance business and its banking unit.
Allianz, based in Munich, Germany, reported 1.2 billion euros ($1.5 billion) profit for its 2005 first quarter.
The company's combined ratio for its property-casualty business fell by 3.7 percentage points to 92.1, while p-c net income went up from 554 million euros ($709 million) to 753 million euros ($964 million).
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