Allianz Group saw its assets under management reach €2.16 trillion ($2.46 trillion) as of June 30, up 3% from March 31 and 8.5% from the same quarter a year ago, said the company's earnings statement issued Friday.
Allianz's Group's revenues dropped 24.8% to €30.3 billion compared to the first quarter but rose 6.1% compared to the second quarter of 2018. Net income reached €2.3 billion for the second quarter, compared to €2.1 billion for the first quarter and €1.9 billion for the second quarter of 2018.
Third-party assets increased 2.8% in the three months ended June 30 and 8.7% for the year to €1.6 trillion. The company attributed the increase to positive market effects and net inflows partially offset by unfavorable foreign currency translation effects.
Third party net inflows were €20 billion for the second quarter, compared to net inflows of €18 billion for the first quarter and net outflows of €9 billion for the second quarter of 2018.
