Talanx AG

Talanx is a financial and management holding company. Co. is internationally active in primary insurance and reinsurance and in both property/casualty and life business. In the more than 100 years of Co.'s history, Co. has evolved from a single-line liability insurer for industry into a global insurance group with a focus on the industrial and retail lines and reinsurance business. Through its subsidiaries, Co. is engaged in five business segments: Life/Health Reinsurance; Non-Life Reinsurance; Retail Germany; Industrial Lines; and Retail International.
  • TickerTLX
  • ISINDE000TLX1005
  • SectorNonlife Insurance
  • CountryGermany
Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

Talanx AG : Despite the group’s solid resilience in the face of the crisis, we expect a marked fall in net income for Q2

>Net income forecast to decline in Q2 … - Talanx is due to report its Q2 2020 results on Wednesday 12 August before trading. We forecast premium growth of 3.9% in Q2, in line with the consensus, and driven by the expected increase of 7.8% in reinsurance premiums (Hannover Re), whereas we expect a 5.0% rise in premiums for the industrial lines segment and, in contrast, a fall in insurance premiums in Germany, in P&C insurance (-3.1%) and particularly in life insurance ...

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

Talanx AG : Malgré la bonne résistance du groupe face à la crise, nous attendons une baisse marquée du RN au T2

>Un RN attendu en baisse au T2 … - Talanx publiera son RN du T2 2020 mercredi 12 août avant Bourse. Nous prévoyons une croissance des primes de 3.9% au T2, en ligne avec le consensus, et tirée par la hausse attendue de 7.8% des primes en réassurance (Hannover Re), alors que nous attendons une augmentation de 5.0% des primes pour le segment Industrial Lines et, en revanche, une baisse des primes en assurance en Allemagne, en assurance dommages (-3.1%) et surtout en ass...

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Stocks

EAFE > EM; Add exposure to Japan Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). Below we highlight attractive and actionable themes within developed int'l: • Japan, Switzerland, Australia, Canada. Major Japanese indexes have been underperforming for nearly two years but are making bullish price and RS inflections and exhibit early signs of bottoming. Switzerland, Australia, and Canada are all trading at multi-year highs and are among the most attractive coun...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

More cracks begin to show Weaker than expected data out of China and an as-expected 0.1% preliminary GDP contraction for the 2nd quarter in Germany has global equities back on the defensive, with the MSCI ACWI, ACWI ex-US, and EAFE back near logical support. In last week's Int'l Compass we noted that some cracks are beginning to show in the form of STOXX 600 Banks and Brent crude breakdowns, which led us to believe global equities are vulnerable to a breakdown. Below we highlight more cracks that are showing, which only increases the likelihood that equities may be poised to break down. • Mo...

Talanx Ag: 1 director bought

A director at Talanx Ag bought 3,700 shares at 28.923EUR and the significance rating of the trade was 61/100. 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. The names of board mem...

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

Talanx AG : Despite the group’s solid resilience in the face of the crisis, we expect a marked fall in net income for Q2

>Net income forecast to decline in Q2 … - Talanx is due to report its Q2 2020 results on Wednesday 12 August before trading. We forecast premium growth of 3.9% in Q2, in line with the consensus, and driven by the expected increase of 7.8% in reinsurance premiums (Hannover Re), whereas we expect a 5.0% rise in premiums for the industrial lines segment and, in contrast, a fall in insurance premiums in Germany, in P&C insurance (-3.1%) and particularly in life insurance ...

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

Talanx AG : Malgré la bonne résistance du groupe face à la crise, nous attendons une baisse marquée du RN au T2

>Un RN attendu en baisse au T2 … - Talanx publiera son RN du T2 2020 mercredi 12 août avant Bourse. Nous prévoyons une croissance des primes de 3.9% au T2, en ligne avec le consensus, et tirée par la hausse attendue de 7.8% des primes en réassurance (Hannover Re), alors que nous attendons une augmentation de 5.0% des primes pour le segment Industrial Lines et, en revanche, une baisse des primes en assurance en Allemagne, en assurance dommages (-3.1%) et surtout en ass...

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Stephane Houri

Ageas : Digitalisation post-COVID : quelles conséquences sur nos secteurs et valeurs ?

Cette note transversale du bureau d’étude ODDO BHF a pour but d’identifier les secteurs et valeurs positivement impactés ou en risque face à une accélération de la digitalisation de la société et de l’économie post COVID-19. Nous ressortons avec 16 valeurs attractives et 12 valeurs en risque. - >Digitalisation accélérée, pas de retour en arrière - La crise du COVID-19 va sans aucun doute accélérer l’utilisation du numérique dans la société en général. Le télétravail a ...

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

ODDO : What can we learn from the publication of Q1 results?

Insurers have registered the initial impacts of the crisis in Q1 but we note the resilience of operating profitability, whilst solvency margins, albeit down, remain solid. The effects of the crisis are likely to impact Q2 results, but not significantly the outlook for 2021-2022 results. The sector is currently trading at attractive valuation multiples in view of its fundamentals. - >Q1 operating profit in line with forecasts - Insurers have reported solid results, give...

Benoit Valleaux ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Martial Descoutures
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/11/2020

Like a phoenix rising from its ashes, the US shale industry weathered the 2014 crisis and even continued to gain market share. Five years on, the sector has to contend with a veritable slump in WTI prices and this time around, there will be “a problem in Houston”. This time shale output is likely to fall and drilling equipment manufacturers will not escape completely unscathed, notably because of the risk of asset impairments. Once again, resilience will be measured by the ability to ...

Benoit Valleaux ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Martial Descoutures
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/05/2020

Tel le phénix qui renait de ses cendres, l’industrie du schiste américain avait survécu à la crise 2014 et même continué à gagner des parts de marché. 5 années plus tard, le secteur doit faire face à un véritable crash des cours du WTI et cette fois-ci, il y aura « un problème du côté de Houston ». La production du schiste devrait baisser et les équipementiers de forage n’en sortiront pas complètement indemnes, avec notamment un risque de dépréciations d’actifs. Une nouvelle fois, la ...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Jean Danjou
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/22/2020

The rise in share prices from the low points raises questions. The arguments in favour, an unprecedented response from states and central banks, the probable reaching of the pandemic peak and the beginning of the lifting of lockdown measures, are known. But a slew of unknown elements (the profits mass post-normalisation, possible epidemic rebound) persist and the macro low point has not yet been reached. A modelling of the time to reach the trough carried out on the last 5 bear marke...

TALANX AKTGSF. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of TALANX AKTGSF. (DE), a company active in the Full Line Insurance industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 9, 2020, the closing price was EUR 35.88 and its potential was estimated at EUR 39.05.

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 week...

Expert Corporate Governance Service (ECGS)

Talanx – AGM 7 May 2020

General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by way of postal voting or by granting authority to the proxies designated by the Company.   In line with German law, the auditor of an insurance company like Talanx is not appointed by the AGM but by the Supervisory Board.   Item 2: In view of the recent events relating to COVID-19, ECGS is in favour of postpo...

Expert Corporate Governance Service (ECGS)

Talanx – AGM 7 May 2020

General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by way of postal voting or by granting authority to the proxies designated by the Company.   In line with German law, the auditor of an insurance company like Talanx is not appointed by the AGM but by the Supervisory Board.   Item 2: In view of the recent events relating to COVID-19, ECGS is in favour of postpo...

Expert Corporate Governance Service (ECGS)

Talanx - AGM 09 May 2019

General: In line with German law, the auditor of an insurance company like Talanx is not appointed by the AGM but the Supervisory Board. Item 4: The remuneration system for the Management Board has not yet been put to shareholder approval since the Company's IPO in 2012. We urge the Company to review the remuneration system and to submit it to shareholder approval at the next AGM. In line with our guidelines we would in principle recommend opposing the discharge of the Chairman of the Supervisory Board's Personnel Committee ("Remuneration Committee"), Herbert K. Haas. However, as the discharg...

Talanx – Proxinvest Corporate Governance Rating ® : D

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...

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