Allianz said Wednesday that first-quarter net profit fell 4% as a weaker contribution to earnings from its asset management business outweighed falling claims costs and revenue gains.

Net profit fell to €1.64 billion ($2.25 billion) from €1.71 billion a year earlier. Revenue was up 6% at €34 billion from €32 billion in the first quarter of 2013.

Insurer's fund management businesses offset improved claims and revenue gains

Ulrike Dauer, The Wall Street Journal 

Allianz

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Allianz profit dented by fund management

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