Allianz posts over 7% growth in operating profit driven by P&C business

German insurer Allianz SE’s operating profit increased more than 7% year-on-year to €3.5 billion ($3.5 billion) in the third quarter of the year, driven by robust performance of its property and casualty business, Reinsurance News reported. Allianz’s P&C business posted over 14% growth in revenue to around €16 billion.