Why Allianz (AZSEY) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Allianz SE (AZSEY) , the German insurer, are up 0.40% to $17.52 after it was reported that the company will overhaul and may sell parts of its U.S. property and casualty business Fireman's Fund after struggling for years to bring underwriting losses under control, Reuters reports.

Allianz said its Fireman's Fund commercial property and casualty business would be integrated into the specialty insurance business Allianz Global Corporate & Specialty, giving the combined business more than $3 billion in revenues.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

AZSEY Chart AZSEY data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

 

More from Markets

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists