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International

Natural disasters hit Allianz's profit

February 19, 2018 Reprints

Germany-based insurer Allianz S.E.'s net profit declined more than 2% year over year to nearly €7 billion ($8.7 billion) in 2017 due to a string of natural disasters and tax reform in the United States, The Bloomberg reported. The insurer recorded more than €1 billion in catastrophe losses from forest fires in California, hurricanes Harvey, Irma and Maria and storms in Europe. The also insurer remains interested expanding through acquisitions in the property & casualty insurance sector.

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Natural disasters hit Allianz's profit

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