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Member, Beacon International Group, Ltd.
Allianz S.E.'s Latin American subsidiaries have contributed to its disappointing results in the third quarter of 2015, reported BNamericas.
The insurer's property/casualty revenues decreased 12.7% to €507 million ($551.8 million) during the quarter.
Allianz' property/casualty operating income totaled €1.35 billion ($1.46 billion) in the quarter, down 5% year on year.
Allianz recorded an operating loss of €70 million ($76.1 million) in Latin America.
Allianz said that the improvements in Brazil and Colombia were offset by deterioration in Argentina.