Dow Jones Newswires: Allianz upbeat on outlook after revenue edges increased

Allianz SE (ALV.XE) said Friday that third-quarter net profit edged higher and that it now expects full-year operating profit to be in the upper half of its target range.

The German insurer said net profit rose 0.6% to 1.95 billion euros ($2.16 billion) from EUR1.94 billion a year earlier. Revenue rose by 8.1% to EUR33.4 billion, while operating profit edged 0.1% lower to EUR2.98 billion.

Allianz said it now sees 2019 operating profit in the upper half of its target range of between EUR11 billion and EUR12 billion.

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