German insurance - provider Allianz has announced its operating profits for 2019 reached € 11.5bn ( $ 13bn ) , the highest the insurer has seen in its history . The firm attributed the growth to its property and casualty business , which jumped 13.3 % in profits due to an improved profit ratio , premium growth and lower claims from natural disasters . Allianz plans to target € ##15 in operating profits for 2019 , citing unforeseen losses , and announced a € 1.5bn ( $ 1.7bn ) share buyback programme .
German insurance-giant Allianz has announced its operating profit for 2018 reached €11.5bn ($13bn), the highest the insurer has seen in its history. The firm attributed the growth to its property and casualty business, which jumped 13.3% in profits due to an improved expense ratio, premium growth and lower claims from natural disasters. Allianz plans to target €11.5bn in operating profit for 2019, barring unforeseen events, and announced a €1.5bn ($1.7bn) share buyback programme.