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Soaring profits force Allianz into market update

Allianz, the German insurer, was last night forced to reveal headline second-quarter figures three days earlier than planned as profits soared above market expectations. The firm is due to report full results on Friday.

In a statement released last night, the firm announced a near 19% rise in operating profits to €2.4bn ($2.97bn) for the three months to the end of June against €2bn for the same period last year and a €2.1bn top of the range expectation.

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