May 12, 2017 / 5:24 AM / 3 months ago

Allianz confirms outlook for 2017 after Q1 earnings, Pimco strength

FRANKFURT, May 12 (Reuters) - German insurance Allianz on Friday reaffirmed its operating profit target for 2017 after underscoring the strength of its bond fund manager PIMCO.

In an earnings report for the first quarter of this year, Allianz said it was continuing to target operating profit of 10.8 billion euros ($11.74 billion), give or take 500 million.

"Allianz saw a good start into 2017 with results putting the group on track to meet its operating profit target for the full year," said Allianz Chief Financial Officer Dieter Wemmer. ($1 = 0.9200 euros) (Reporting by Tom Sims; Editing by Harro ten Wolde)

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