FRANKFURT, Nov 9 (Reuters) - The German insurer Allianz said on Thursday that it posted a 17.3 percent decline in net profit in the third quarter as a spate of natural catastrophes increased claims and weighed on earnings.
The profit of 1.6 billion euros ($1.86 billion) was in line with expectations. Analysts forecast a net profit of 1.549 billion euros, according to a Reuters poll.
It also announced a new 2 billion euro share buy-back program. ($1 = 0.8590 euros) (Reporting by Tom Sims; Editing by Arno Schuetze)