Allianz Boosts Shareholder Returns After Profit Nearly Doubles.

Allianz, a German insurer, reported that its fourth-quarter profit nearly doubled due to a strong performance in its life-health segment. The company also announced a new share buyback program and increased its dividend payout. Operating profit rose 17% in the quarter, driven by a strong performance in its life-health business and increased profitability in all other segments. However, Allianz's fourth-quarter property-casualty combined ratio weakened and missed expectations. The company has set a target operating profit for 2024 at EUR14.8 billion. [Extracted from the article]