AGCS profits fall by just under 9% but ‘robust’ rate increases boost top line

Allianz Global Corporate & Specialty (AGCS) saw profits fall by just under 9% to €250m in the first nine months of this year but reported “robust” rate increases of 8.7% for the period, which helped boost premium growth. It said the decline in operating profit was driven by a lower underwriting result, partly offset by higher investment income. The unit’s…

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