MUNICH ( TheStreet) -- German insurer Allianz ( AZ) said third-quarter earnings fell 8.8% on higher tax expenses despite a revenue rise of 11.4%. Allianz, Europe's largest life insurance company, said net profit was €1.27 billion ($1.76 billion) vs. €1.39 billion a year earlier. Revenue in the quarter increased by 11.4% to €24.5 billion. Allianz said it expects its full-year operating profit to to "trend towards the upper end" of its target range of around €7.2 billion, "plus or minus €500 million." Allianz also said for the first time since 2005 it's likely to end the year with total revenue above €100 billion. Third-quarter operating profit rose 2.3% to €2.06 billion. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.