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PIMCO parent Allianz makes $1.8 billion net profit

By Washington Examiner
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FRANKFURT, Germany (AP) — German insurance group Allianz SE says its net income bounced back strongly in the third quarter to €1.4 billion ($1.8 billion).

The result is much better than the €258 billion earned in the same quarter a year ago, when the company had to write off losses on Greek government bonds and other investments.

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