Allianz Profit Rises as Pimco Draws €15 Billion in Inflows (2)

Allianz SE, the German insurer that owns bond manager Pacific Investment Management Co., saw second-quarter profit rise amid better results in its property-casualty insurance segment and inflows at Pimco.

Group operating profit increased 12% to €4.41 billion ($5.1 billion), Allianz said in a statement Thursday. That was above analysts’ expectations. The company confirmed its profit target of between €15 billion and €17 billion this year.

Pimco’s third-party clients added €15 billion in the three months through June, making it the sixth consecutive quarter of inflows. In July, the asset manager saw an additional $21 billion in third-party money, ...