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Allianz says 2017 was its costliest year.

Global Banking News-February 16, 2018--Allianz says 2017 was its costliest year

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Global Banking News - 16 February 2018

Insurance provider, Aviva (NYSE: AV), has said that 2017 was its costliest year because of natural disasters.

The firm made the comment while reporting a drop in net profits in 2017 due to US tax reforms and several natural calamities.

The Munich-based group booked net profits of EUR6.8bn, a drop of 2.3 percent year-on-year. In the fourth quarter, the insurance providers' net profit fell 22 percent compared with October to December 2016.

Full-year revenues grew 3 percent to EUR126.1bn.

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Publication:Global Banking News (GBN)
Date:Feb 16, 2018
Words:128
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