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FRANKFURT (Reuters) - Allianz will need at least three years to turn its troubled U.S. unit Fireman’s Fund into a dependably profitable niche insurer, an Allianz board member said.

The U.S. property-casualty unit has been a headache for Europe’s biggest insurer, which has repeatedly had to build up loss buffers at the unit, while seeing it slide to an operating loss last year.

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