German insurer Allianz fourth-quarter net income improves $1.5 billion

Allianz 4Q net income improves $1.5 billion

FRANKFURT — German insurance company Allianz SE says its net income improved in the fourth quarter from a loss a year ago, as a result of improved revenue, operating profit and an improvements in capital markets.

Munich-based Allianz says it earned euro1.1 billion ($1.5 billion) in the October-December period from a loss of more than euro3 billion in the fourth quarter of 2008.

Revenue is 11 percent higher to euro26 billion from euro23 billion in the fourth quarter of 2008.