Allianz raises outlook for the full year after better-than-expected quarter

FRANKFURT, Nov 12 (Reuters) - Germany's Allianz on Thursday gave a rosier outlook for the full year after a 2% drop in third-quarter net profit still came ahead of expectations.

• Net profit attributable to shareholders of €2.784 billion ($3.08 billion) in the three months through September compares with profit of €2.847 billion a year earlier. The figure surpassed a €2.506 billion consensus forecast.

• Allianz lifted the upper end of its operating profit outlook to around €18.6 billion, compared with its previous guidance of €17.4 billion plus or minus €1 billion.

• Allianz said that its asset management and property-casualty divisions supported third-quarter profit.

• Asset management, which includes the PIMCO brand, saw an 18% rise in operating revenue and a 20% increase in operating profit.

• Third-party assets under management dropped slightly to €2.152 trillion in the third quarter from €2.161 trillion at the end of the second quarter, partly a result of "adverse market effects driven by interest rate movements".

($1 = €0.9027)

(Reporting by Tom Sims and Alexander Huebner, editing by Linda Pasquini and Thomas Seythal)