February 16, 2018 / 6:12 AM / 8 months ago

Allianz Q4 net profit down 22 percent on U.S. tax hit, weak dollar

FRANKFURT, Feb 16 (Reuters) - The German insurer Allianz said on Friday that it posted a 22 percent decline in net profit in the fourth quarter of 2017 after a U.S. tax overhaul, a weak U.S. dollar, other one-off costs, and natural disasters weighed on earnings.

The profit of 1.427 billion euros ($1.79 billion) fell short of expectations. Analysts forecast a net profit of 1.587 billion euros, according to a Reuters poll. ($1 = 0.7972 euros) (Reporting by Tom Sims; Editing by Arno Schuetze)

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