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Insurance company Allianz, the largest insurance company in Europe in terms of market value and revenue, reported that in the first quarter its operating profit amounted to 2.962 billion euros, having increased by 7.5% over the year, mainly due to the good quarterly results recorded in the property insurance segment. During the earnings period, net profit increased by 1.6% to 1.969 billion euros. Revenues reached 40.3 billion euros, its annual growth was at 9.1%. The division in the field of property and accident insurance showed an increase in operating profit of 14.2% to 1,455 billion euros. In the segment of life insurance and medical insurance, there was a 2.5% increase in operating profit. The German insurer also reported a record volume of assets under its management of 1.55 trillion euros and a net inflow of customer funds in the amount of 17.8 billion euros. Since the beginning of the year, its capitalization has increased by 12.5%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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