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.

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