The company said Thursday that its full-year net profit fell by 46 percent to
Greek bonds have fallen steeply due to the country's debt crisis; the country has worked out a deal for creditors to take losses on their investments of 70 percent or more. Allianz said it had written down the value of Greek bonds on its books to around a quarter of their value.
In the fourth quarter, the company's profit more than halved to
Allianz also reported that its fourth-quarter revenue slipped 3.7 percent to
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