Insurer Allianz hikes dividend on higher FY profit


BERLIN (AP) — Insurance company Allianz says it is increasing its dividend to 5.30 euros ($7.27) from 4.50 euros a share after profits rose 15 percent last year.

The Munich-based company said Thursday its net income attributable to shareholders reached 6 billion euros ($8.24 billion) in 2013, up from 5.2 billion euros the previous year.

Heavy storms in Europe last year didn't hurt earnings from its property and casualty business, while its life and health insurance also grew.

Revenue rose 4.1 percent to 110.8 billion euros.

Fourth quarter earnings increased 1 percent to 1.26 billion euros.

In early trading on the Frankfurt exchange Allianz shares remained unchanged on the previous day at 131.10 euros.

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