* Low interest rates make environment more risky
* Q4 storm Christian claims, other factors up to 400 mln eur
* Property-casualty business improves
FRANKFURT, Nov 8 Allianz said it
expected operating profit of slightly more than 9.7 billion
euros ($13 billion) in 2013, edging over the top of its own
target range and in line with analysts' expectations.
Europe's biggest insurer on Friday posted third-quarter
operating profit of 2.52 billion euros, in line with analysts'
expectations, helped by an improvement in property-casualty
insurance, while volatile markets hurt performance in
life-health insurance and asset management.
"The global low interest rate environment and market
volatility will continue to negatively impact Allianz's risk
profile through our business development, asset values and the
value of our liabilities," the company said.
Asset management saw net outflows from third party investors
of 26.7 billion euros in the third quarter, compared with
inflows of 31.5 billion euros in the same quarter a year
Allianz said damage claims from winter storm Christian, a
review of product strategy in Korea, and investments in its
consolidation of IT centres might crimp operating profit by 100
million to 400 million euros in the fourth quarter.
It also unveiled a slight rise in third-quarter net profit
to 1.45 billion euros, compared with the 1.41 billion euro
average of 10 forecasts in a Reuters poll of banks and