AGCS reserve charge of Eur600mn slashes Allianz P&C profitability

Allianz P&C operating profit in 2019

German giant Allianz surprised analysts with a “disappointing” year in its P&C segment, as the unit’s operating profit missed the lower end of its target Eur5.4-6.0bn range due to reserve strengthening of Eur600mn and an operating loss of Eur284mn for AGCS.

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