Trending: Allianz Swung to 4Q Net Profit on Life-Health Strength

1546 GMT - Allianz SE is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after the company swung to a net profit in the fourth quarter thanks to a strong performance in its life-health business. Europe's largest insurer said its net profit in the October-December period came in at 2.01 billion euros ($2.14 billion), up from a net loss of EUR292 million a year prior. Operating profit rose 12.7% to EUR3.96 billion, driven by a 51% jump in its life-health segment. For 2023, the company guided for an operating profit between EUR13.2 billion to EUR15.2 billion, compared with its 2022 operating profit of EUR14.16 billion. The company also declared a dividend of EUR11.40 a share, an increase of 5.6% from 2021, it said. Allianz Chief Financial Officer Giulio Terzariol said the impact from the devastating earthquake in Turkey and Syria is estimated to be around EUR50 million-EUR100 million. Dow Jones & Co. owns Factiva. ([e-mail])

(END) Dow Jones Newswires

February 17, 2023 11:02 ET (16:02 GMT)

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