Allianz Q1 net income slips despite higher revenue

FRANKFURT Wed May 7, 2014 2:56am EDT

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FRANKFURT May 7 (Reuters) - Insurer Allianz SE posted a slight fall in net income in the first quarter despite a surge in revenue, the company said in a preliminary statement ahead of its annual shareholder meeting later on Wednesday.

Europe's leading insurer saw net income attributable to shareholders ease to 1.64 billion euros ($2.29 billion) compared to 1.71 billion euros for the first quarter of 2013.

Revenues for the first quarter rose to 34 billion euros, the highest quarterly revenues in the company's history, compared to 32 billion euros one year earlier.

Analysts on average had expected net income in the quarter of 1.621 billion euros, according to Thomson Reuters estimates. (Reporting by Thomas Atkins; Editing by Arno Schuetze)

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