FRANKFURT May 15 Surging revenue and profit at
Allianz's PIMCO asset management unit gave a strong
boost to the insurer's overall performance in the first quarter,
Allianz said on Wednesday.
PIMCO, manager of the world's biggest bond fund, saw net
inflows of third party assets nearly double in the first quarter
to over 40 billion euros ($51.9 billion), Allianz said in a
statement that provided details of the group's quarterly
Europe's biggest insurer had already given preliminary key
figures for the first quarter on May 7, saying all its divisions
contributed to a nearly 20 percent rise in group operating
Operating and net profit in asset management nearly doubled
in the first three months of the year, as margins rose in
addition to volume.
Germany's third-biggest insurance group, Talanx,
is due to report quarterly results later on Wednesday.
($1 = 0.7705 euros)
(Reporting by Jonathan Gould; Editing by Harro ten Wolde)