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Allianz Quarterly Profit Misses Estimate; Shares Drop

Allianz SE, Europe’s biggest insurer, posted fourth-quarter earnings that missed analysts’ estimates and said operating profit may decline this year. The shares fell the most in seven months.

Net income grew to 1.26 billion euros ($1.72 billion) in the quarter from 1.24 billion euros in the year-earlier period, the Munich-based company said in a statement today. That compared with the 1.31 billion-euro average estimate of 13 analysts surveyed by Bloomberg.