Allianz confirms 2012 operating target above 9 bln eur

FRANKFURT Fri Nov 9, 2012 1:22am EST

FRANKFURT Nov 9 (Reuters) - Allianz on Friday confirmed its 2012 target for operating profit to exceed 9 billion euros ($11.5 billion), based on initial estimates of claims from superstorm Sandy in the United States.

"This outlook considers preliminary estimates regarding the impacts of hurricane 'Sandy' as per November 8, 2012," Allianz said, warning also that claims from large catastrophes sometimes take weeks or months to be finalised.

Europe's biggest insurer had already reported headline earnings figures on Oct. 29.

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