Nurnberger Beteiligungs - Solid 2017 results but still low rating
The turnaround in business levels in life insurance after the weak first half improves visibility, although the overall environment remains challenging. Strong 2017 profits mean the price to NAV ratio is barely changed at an undemanding 1.03x despite some gain in the share price. A highly tenable 4.2% dividend yield offers further attraction.NUERNBERGER Beteiligungs AG is a Germany-based insurance company. It operates through four segments: Life, Health, Property and Casualty, and Banking Services. The Life segment comprises the provision of life insurances, disability insurance, occupational pensions and various forms of risk insurance, and a pension funds. The Health segment comprises subsidiaries engaged in the provision of health and supplementary insurances, as well as care insurances for employees, self-employed and civil servants. The Property and Casualty segment comprises the activities of the Company's subsidiaries engaged in the area of property, casualty and accident insurances, as well as reinsurances. The Banking Services segment includes a credit institution, own financial products, asset management and investment services. The Company operates through a number of subsidiaries in Germany, Luxembourg, Austria and the United States, among others.
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