Allianz Profit Beats as Pimco Sees $10 Billion of Inflows
- Claims from summer storms push profit lower in quarter
- Pimco is benefiting as interest rates near their peak
This article is for subscribers only.
Allianz SE reported a third-quarter profit that beat analysts’ estimates as its giant bond manager Pacific Investment Management Co. continued to attract new money.
Group operating profit fell 15% to €3.47 billion ($3.7 billion), better than the €3.26 billion analysts had expected. Pimco attracted €10 billion from outside clients in the three months through September, the third straight quarter of inflows.