(Bloomberg) -- AllianzSE missed analyst estimates for fourth-quarter profit becauseof claims from natural catastrophes.

Net income at Europe’s biggest insurer increased to 1.42 billioneuros ($1.6 billion) in the quarter from 1.22 billion euros a yearearlier, the Munich-based company said in a statement Friday. Thatcompares with the 1.56 billion-euro average of six estimatescompiled by Bloomberg. The insurer’s shares fell 1.44% to 133.75euros at 12:07 p.m. in Frankfurt.

“Allianz steadily delivers strong results in increasinglychallenging operating conditions,” Chief Executive Officer OliverBaete, 50, said in the statement. “Our business is healthy andwell-diversified. This makes us confident that we will continue todeliver strong earnings.”

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