FRANKFURT, Aug 10 Reuters Germany39;s Allianz on Thursday posted a betterthanexpected 18 rise in secondquarter net profit, rebounding from volatile markets a year ago, and confirmed its 2023 outlook.

The company, one of Europe39;s largest financial firms, pointed to strength at its property and casualty division, helped by lower claims from natural disasters.

Net profit attributable to shareholders of 2.337 billion euros 2.57 billion in the three months through June compares with 1.977 billion euros a year earlier. The figure surpassed a 2.308 billion euro consensus forecast.

The period marks a recovery from a year earlier, which was damped by jittery markets in the wake of the fullscale invasion of Ukraine.

The insurer39;s target of 2023 operating profit between 13.2 billion and 15.2 billion euros remains intact, the company said.

1 0.9109 euros

Reporting by Tom Sims, Editing by Rachel More and Friederike Heine

Source Reuters