Allianz says Q1 net profit up 24 pct to 1.7 bln eur

FRANKFURT Tue May 7, 2013 2:48am EDT

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FRANKFURT May 7 (Reuters) - Allianz's net profit rose by nearly one fourth to about 1.7 billion euros ($2.22 billion) in the first quarter, driven by a solid performance from all its main businesses, Europe's biggest insurer said on Tuesday.

"The improvement in our results comes from all of our business segments, so it is broad-based," Chief Executive Michael Diekmann said in a statement.

Operating profit rose by 20 percent to 2.8 billion euros but the insurer said it saw no need to change its outlook in view of existing market risks.

Allianz is due to release detailed results for the first quarter on May 15. ($1 = 0.7659 euros) (Reporting by Jonathan Gould)

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