Assicurazioni Generali is the parent company for The Generali Group (the Group), an insurance and financial services provider. The commercial offer is composed of savings and pure risks policies, which constitute the majority of the portfolio, which includes protection and pension funds. In the non-life sector the Group is focused primarily on the retail market. In addition, through the Europ Assistance Group, Co. is engaged in services in motor, travel, health, home and family. The Group has also expanded its business from insurance to a range of asset management, property and financial services.
  • TickerG
  • ISINIT0000062072
  • SectorNonlife Insurance
  • CountryItaly

Increased risk weighs on ASSICURAZIONI GENERALI, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of ASSICURAZIONI GENERALI (IT), active in the Full Line Insurance industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date October 16, 2020, the closing price was EUR 12.14 and its target price was estimated at EUR 10.36.

Assicurazioni Generali Spa: 1 director bought

A director at Assicurazioni Generali Spa bought 275,000 shares at 12.377EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. Th...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA
  • Slim Bouasker

ODDO : Motor insurance is the biggest winner from the lockdown!

>Major contribution from motor insurance in Europe - Motor insurance is a key business segment for all P&C insurance groups in Europe. In terms of revenues, motor insurance accounted for 35.6% of total P&C premiums in Europe at end-2018. As we can see from chart 1, between 2004 and 2018, the weight of the segment has been largely stable in France (35.2% at end-2018) and in Germany (39.5%). Despite the decline seen in the last few years in Italy (53.4%) and the UK (20....

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA
  • Slim Bouasker

ODDO : L’assurance automobile a été le grand gagnant du confinement!

>Un poids important de l’assurance auto en Europe - L’assurance auto est une activité extrêmement importante pour l’ensemble des acteurs de l’assurance dommages en Europe. En termes de ventes, les primes en assurances auto représentaient 35.6% des primes dommages en Europe à fin 2018. Comme le montre le graphique 1, entre 2004 et 2018, le poids de cette activité est resté quasiment stable en France (35.2% à fin 2018) et en Allemagne (39.5%). Malgré la baisse observée ...

Alfred Glaser ...
  • Anis Zgaya
  • Anthony Dick
  • Benoit Valleaux
  • Chaima Ferrandon
  • Delphine Brault
  • Emna Ben Bdira
  • Florent Laroche-Joubert
  • Harald Eggeling
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nadine El Ouni
  • Nour El Houda Hammami
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Slim Bouasker
  • Sven Edelfelt
  • Syrine Kabboura
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/11/2020

...

Matthieu DRIOL

Analyse court terme - GENERALI ASSICURAZIONI : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 14,485 € prochainement. Le prochain objectif est à 13,764 €, puis 13,480 €. Le franchissement de 16,227 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - GENERALI ASSICURAZIONI : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €14.485. The next target is at €13.764, then €13.480. Passing €16.227 would question the continuation of the fall.

Matthieu DRIOL

Short term view - GENERALI ASSICURAZIONI : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €14.485. The next target is at €13.764, then €13.480. Passing €16.227 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - GENERALI ASSICURAZIONI : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 14,485 € prochainement. Le prochain objectif est à 13,764 €, puis 13,480 €. Le franchissement de 16,227 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse moyen terme - GENERALI ASSICURAZIONI : Les cours baissent.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

Assicurazioni Generali Spa: 1 director bought

A director at Assicurazioni Generali Spa bought 275,000 shares at 12.377EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. Th...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA
  • Slim Bouasker

ODDO : Motor insurance is the biggest winner from the lockdown!

>Major contribution from motor insurance in Europe - Motor insurance is a key business segment for all P&C insurance groups in Europe. In terms of revenues, motor insurance accounted for 35.6% of total P&C premiums in Europe at end-2018. As we can see from chart 1, between 2004 and 2018, the weight of the segment has been largely stable in France (35.2% at end-2018) and in Germany (39.5%). Despite the decline seen in the last few years in Italy (53.4%) and the UK (20....

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA
  • Slim Bouasker

ODDO : L’assurance automobile a été le grand gagnant du confinement!

>Un poids important de l’assurance auto en Europe - L’assurance auto est une activité extrêmement importante pour l’ensemble des acteurs de l’assurance dommages en Europe. En termes de ventes, les primes en assurances auto représentaient 35.6% des primes dommages en Europe à fin 2018. Comme le montre le graphique 1, entre 2004 et 2018, le poids de cette activité est resté quasiment stable en France (35.2% à fin 2018) et en Allemagne (39.5%). Malgré la baisse observée ...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : A marked increase in COVID-related charges in Q2, but additional costs anticipated for H2

>COVID charge increased four-fold at end-June (vs end-March) - The H1 accounts of insurance stocks were naturally marked by claims related to COVID-19, as well as the effects of the financial crisis. For all of the stocks in our coverage, COVID-related claims (excluding the favourable effect of automotive claims, but also without the impact of solidarity measures) totalled € 9.3bn at end-June, a marked increase vs end-March (€ 2.3bn). Whilst at end-March the COVID cha...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : Une forte hausse de la charge COVID au T2, mais des coûts supplémentaires sont attendus au S2

>La charge COVID a été multipliée par 4 à fin juin (vs fin mars) - Les comptes du S1 des valeurs d’assurance a naturellement été marqué par la charge de sinistre relative à la COVID-19, ainsi qu’aux effets de la crise financière. Sur l’ensemble des valeurs de notre univers, la charge de sinistres COVID (hors prise en compte des effets favorables sur la sinistralité automobile, mais également hors impact des mesures de solidarité) était en cumulé de 9.3 Md€ à fin juin,...

Benoit Valleaux

Generali : Generali remains well-armed to weather the crisis

>Good resilience by underlying profitability - Generali reported H1 2020 net profit yesterday. Premiums beat forecasts at € 36.5bn (+2.1% reported, +1.2% like-for-like), aided by the sale in June of a very large pension contract (€ 1.5bn). Operating result fell by 0.4% to € 2.74bn in H1, close to forecasts. Excluding the COVID impact, it would have grown by 2.7% to € 2.8bn. The operating result performance was mixed by business line, beating forecasts in P&C insuranc...

Expert Corporate Governance Service (ECGS)

Assicurazioni Generali – AGM 27 April 2020

The ECGS partners Proxinvest and Frontis Governance provide voting advice to Generali Investments. It is important to note that these partners do not provide consulting services to Generali Group.   In item 2, the Board of Directors proposes to distribute a dividend of €0.96 per share on 2019 results. Taking into account the recommendations issued by European and Italian supervisory authorities to temporarily suspend dividend distribution, on April 10 the Board of Directors resolved to split the payment of the dividend: €0.50 per share will be paid in May, while the second tranche of €0.46 p...

Expert Corporate Governance Service (ECGS)

Assicurazioni Generali - AGM 30 April 2019

The ECGS partners Proxinvest and Frontis Governance provide voting advice to Generali Investments. It is important to note that these partners do not provide consulting services to Generali Group. Voting advice is provided primarily as a source of information at general meetings. In item 4 (EGM), the Board proposes to eliminate the age limits for the Board members (70 years for the Chairperson, 65 for the CEO and 77 for other Directors). Although their elimination would allow higher flexibility in the definition of the Board composition, we believe that the application of age limits may help ...

Assicurazioni Generali SPA – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Carine Maciol

Generali : A resilient business model amidst the crisis - Reiterating our recommendations

Publication date 26/08/2020 08:38 - Writing date 26/08/2020 08:37 - Equity data - Reco : - Target : EUR - Equity analyst: Benoit Valleaux - - +33 (0)1 55 35 42 75 - ESG analyst: XXXXX - Corporate Governance: Opportunity (2) - / - / - + Investor day: 18 November 2020 - - - - Between now and 2021 Generali focus on profitable growth, expanding through organic growth and acquisitions in targeted products and countries, primarily in Europe. The COVID-19 health crisis ...

Carine Maciol

Generali : Un business model résistant face à la crise – Recommandations confirmées

A horizon 2021, Generali met en avant la croissance rentable, en se développant par croissance organique et acquisitions sur des produits et pays ciblés, l’Europe en premier lieu. Si la crise sanitaire du Covid-19 est passée par là, à ce stade, elle ne remet pas en cause les grandes lignes du plan stratégique. Lors de la conf. call des résultats semestriels, le management a réitéré ses ambitions de croissance externe. Et les objectifs du plan sont maintenus. La capacité de l’assu...

TP ICAP - Europe - Morning CreditUpdate 12/06/2020 - Generali

Fixed Income        TP ICAP (Europe) S.A. | Recherche Crédit | Vendredi 12 juin 2020 Generali (Achat) : Poursuite du recentrage et des cessions d’actifs Atlantia (Achat) : EBITDA de 1,3 md (-18,6%) Allemagne : Le plan de relance de €130 mds pourrait ajouter +1,3 pt au PIB 2020 et 2021 Lloyds (Vente) : Amende de £64m de la FCA britannique  BNP (Conserver) : Réduction des coûts de €1,5 md cette année et une baisse du RN de -15% à -20% Hertz (Vente) : Envisage de procéder à une augmentation de capital de $1 md Nestlé : Pourrait céde...

Carine Maciol

Generali : Stronger credit quality and attractive yields underpin our Buy recommendation

Publication date 16/12/2019 17:22 - Writing date 16/12/2019 17:19 - - - - - Equity data - Reco : - Target : EUR - Equity analyst: Benoit Valleaux - - +33 (0)1 55 35 42 75 - ESG analyst: XXX - Corporate Governance: Opportunity (2) - / - - - - - - The successful implementation of Generali's previous strategic plan has put it on a firm footing for further development. As such, between now and 2021 Generali will focus on profitable growth, expanding through organic g...

Carine Maciol

Generali : Une qualité de crédit renforcée, et des rendements attractifs confortent notre recommandation à l’Achat

Avec son précèdent plan stratégique, réalisé avec succès, Generali avait posé les bases nécessaires à son futur développement. Et de fait, à horizon 2021, Generali met en avant la croissance rentable, en se développant par croissance organique et acquisitions sur des produits et pays ciblés, l’Europe en premier lieu. Les résultats à 9 mois traduisent clairement la rentabilité des trois segments d’activités, avec des marges techniques en vie qui résistent grâce au mix produits, un...

Alfred Glaser ...
  • Anis Zgaya
  • Anthony Dick
  • Benoit Valleaux
  • Chaima Ferrandon
  • Delphine Brault
  • Emna Ben Bdira
  • Florent Laroche-Joubert
  • Harald Eggeling
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nadine El Ouni
  • Nour El Houda Hammami
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Slim Bouasker
  • Sven Edelfelt
  • Syrine Kabboura
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/11/2020

...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Anthony Dick
  • Benoit Valleaux
  • Chaima Ferrandon
  • Delphine Brault
  • Emna Ben Bdira
  • Florent Laroche-Joubert
  • Hana Jomni
  • Harald Eggeling
  • Haythem BOHLI
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nadine El Ouni
  • Nour El Houda Hammami
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Slim Bouasker
  • Sven Edelfelt
  • Syrine Kabboura
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/09/2020

...

Amira Manai ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Hana Souissi
  • Jeremy Garnier
  • Maissa Keskes
  • Martin Marandon-Carlhian
  • Nada Afli
  • Nadine El Ouni
  • Nicolas David
  • Nicolas Thorez
  • Nour El Houda Hammami
  • Oussema Denguir
  • Roland Pfaender,MBA,CFA,CCRA
  • Salma Bouraoui
  • Slim Bouasker
  • Stephane Houri
  • Thomas Renaud

ODDO BHF Small & MIDCAP MORNING NEWS - 11/09/2020

...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/01/2020

...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/09/2020

...

Increased risk weighs on ASSICURAZIONI GENERALI, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of ASSICURAZIONI GENERALI (IT), active in the Full Line Insurance industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date October 16, 2020, the closing price was EUR 12.14 and its target price was estimated at EUR 10.36.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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