By Friedrich Geiger 

BERLIN -- Allianz SE on Thursday said earnings rose strongly in the fourth quarter and predicted a stable operating profit for this year.

Net profit was EUR1.7 billion ($1.8 billion) in the October-to-December period, 23% higher than a year earlier as revenues increased 0.9% to EUR30 billion.

Allianz aims for an operating profit of EUR10.8 billion for 2017, the same figure that the company reached last year, plus or minus EUR500 million, barring unforseen events.

Management proposed to raise the dividend to EUR7.60 a share from EUR7.30 a share. The German insurer also said it would spend up to EUR3 billion to buy back its own shares.

Write to Friedrich Geiger at friedrich.geiger@wsj.com

(END) Dow Jones Newswires

February 16, 2017 13:49 ET (18:49 GMT)