Allianz, Europe's biggest insurer, on Tuesday
posted a 24-per-cent, year-on-year gain in first-quarter net profit.
Net earnings climbed more than forecast to about 1.7 billion euros (2.23 billion dollars), the Munich-based group said in releasing preliminary figures.
Analysts had expected a rise to 1.42 billion euros.
The company, which also confirmed its business outlook for 2012, did not give specific reasons for the pickup in first-quarter earnings. It plans to publish full details of its results on May 15.
"The start into this fiscal year can be described as truly successful," chief executive Michael Diekmann said.
"The improvement in our results comes from all of our business segments, so it is broad-based," he said.
Diekmann said the group was on its way towards achieving its operating profit outlook for the entire year of 9.2 billion euros, give or take 500 million euros.
Operating profit rose to 2.8 billion euros in the first three months of the year, a 20-per-cent increase.
First-quarter revenue rose 6.6 per cent to 32 billion euros, the company said.
Allianz shares rose 1.8 per cent to 118.50 euros in early trading in Frankfurt.
Most Popular Stories
- PBS Series Examines America's Demographic Shift
- California's Ban on Plastic Bags: What Now?
- Petri Likely Broke House Ethics Rules
- Americans Bet Big on Gambling Industry
- Exxon Gives Nod to Fracking Risks
- Morgan: 'Can't Believe' Wal-Mart Blaming Him
- Texas Sees Gains in Hispanic College Enrollment
- Wealth Gap Widens as Rich Spend More on Kids' Education
- Can You Be Fired for Using Medical Marijuana?
- Lack of Sea Ice Brings 35,000 Walruses Ashore