RPT-Allianz hikes dividend after quarterly profit in line

Thu Feb 27, 2014 1:22am EST

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MUNICH Feb 27 (Reuters) - Allianz raised its dividend by almost a fifth after fourth-quarter net profit met expectations at 1.26 billion euros ($1.72 billion), as a strong operating gain in property and casualty insurance offset declines elsewhere.

Europe's largest insurer said it would raise its dividend, as expected, to 5.30 euros per share for 2013 from 4.50 euros paid for 2012 and unveiled an operating profit target range for 2014 of 9.5 billion to 10.5 billion euros, after delivering 10.07 billion in 2013.

Quarterly net profit was exactly in line with the average forecast of 14 forecasts in a Reuters poll of banks and brokerages, and compares with 1.24 billion euros in the year-earlier quarter. ($1 = 0.7317 euros) (Reporting by Jonathan Gould; Editing by Victoria Bryan)