Allianz Group has reported an operating profit of €10.1bn for the year 2013, with an increase of 7.8%, compared to €9.3bn during the corresponding period last fiscal.

The global insurance company said that its net income attributable to shareholders grew by 14.6% to €6bn compared to €5.2bn during the comparable period earlier year.

For the year ended on 31 December 2013, its revenues grew by 4.1% to €110.8bn, against €106.4bn during the same period last financial year.

Commenting on the financial result, Allianz CEO Michael Diekmann said, "In a politically and economically challenging environment Allianz produced very good results for 2013, and we want to maintain that level this year as well.

"Therefore, our operating profit outlook for 2014 is 10.0 billion euros, plus/minus 500 million euros. The environment will remain challenging in 2014, but our performance shows that we are well positioned with our three-segment strategy."

Property and Casualty insurance operating profit rose by 14.2% to €5.3bn, compared to €4.6bn during the last fiscal year, backed by a strong underwriting result, despite higher compensations for customers following natural catastrophes, among others.

Statutory premiums in the Life and Health insurance business grew year-on-year in 2013 by 8.5% to €56.8bn from €52.3bn.

Asset Management segment registered an operating profit of €3.2bn, with an increase of 7% compared to €3bn during the same period last year.