Allianz Reports 46% Decline In Q1 Net Income

Allianz SE ALIZF reported a 46% decline in its first-quarter net income on Thursday. The company's quarterly earnings came in at 857 million euros ($1.22 billion), or €1.88 per share, versus €1.57 billion, or €3.46 per share, in the year-ago period. The company's revenue dropped to €2.99 billion from €3.06 billion. Its operating earnings fell 4.2% to €1.66 billion. In asset management, the company's after-tax profit jumped to €309 million from €143 million. ALIZF shares gained 0.08% to close at $144.37 yesterday. Read more from Benzinga's Company news.