Allianz Profit Rises to Record as Pimco Adds €26 Billion Inflows
Allianz SE, the German owner of bond firm Pacific Investment Management Co., saw first-quarter profit rise to a record on higher income from its insurance business and inflows in asset management.
Group operating profit increased 6.3% to €4.24 billion ($4.75 billion), in line with analysts estimates, Allianz said Thursday. Pimco's third-party clients added €26.2 billion in the three months through March, marking the fifth consecutive quarter of inflows.
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