Frankfurt (Germany), Nov 10 (EFE) .- The German insurer Allianz had a net attributable profit of 5,376 million euros in the first three quarters, 4.9% more than a year earlier, after natural disasters, which reduced the result in the third quarter.

Allianz reported today that operating profit rose in the same period to 8.337 billion euros, a 3.5% more than a year ago.

Revenues improved between January and September by 2.2%, to 94.500 million euros.

In addition, Allianz has decided to buy more value of 2,000 million euros from the beginning of 2018 and during that first semester because the buyback program that is currently underway ends soon.

In mid February Last year Allianz had decided to buy back its own securities worth up to 3,000 million euros.

Allianz added that it will cancel all the shares repurchased and that the The implementation of the program is conditioned to maintain a sustainable solvency ratio of more than 160%.

In the first nine months of the year the operating profit improved in the life and health insurance by 9.8% (3,351 million euros) and asset management by 11.5% (1,743 million euros).

But it fell in property and casualty insurance million euros) for claims for damages caused by natural disasters in the third quarter.

"The third quarter was robust given the numerous catastrophes Naturals that impacted the property and casualty insurance segment, "said Allianz CEO Oliver Bäte.

He highlighted that the group was able to absorb the claims for the hurricanes, storms and earthquakes in the quarter and increase the accumulated operating profit in the nine months.

Both the attributable net profit and the operating profit were reduced in the third quarter 17.3%.

For 2017 Allianz expects a strong financial result with an operating profit in the upper half of the target range of between 10,300 and 11,300 million euros. euros