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Allianz' Latin American subsidiaries see disappointing Q3 results

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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.

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