Allianz Q3 net income beats forecast, Pimco sees inflows

PIMCO headquarters building in Newport Beach, Calif.
Scott Mlyn | CNBC

Europe's largest insurer Allianz posted a forecast-beating 37 percent rise in third quarter net income on Friday, and said its U.S. bond fund manager Pimco saw third-party net inflows for the first time in over three years.

Quarterly net profit of 1.86 billion euros ($2.03 billion) came in above the average forecast of 1.58 billion euros in a Reuters poll of banks and brokerages.

"Efforts to develop our business in a very difficult environment are paying off," Chief Financial Officer Dieter Wemmer said in a statement.

Allianz confirmed its full-year target for operating profit of 10.5 billion euros, plus or minus 500 million euros.

U.S. bond manager Pimco saw third-party net inflows of 4.7 billion euros in the third quarter, its first net inflows since the second quarter of 2013.

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