Allianz' net income rises 21% in Q1

Allianz S.E.'s net income increased 21% year on year to €2.2 billion ($2.51 billion) during the first quarter of 2016, reports Bloomberg.

Allianz beat analysts' net income expectations of €1.55 billion as the insurer was helped by gains from selling investments.

The insurer expects its operating profit to be up to €11 billion in 2016.

Allianz' Solvency II ratio fell to 186% at the end of first quarter from 200% in the last quarter of 2015.

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