Allianz's 1Q: Good Life and Non-Life; Poorer Showing Asset Management; Stock Fairly Valued
Allianz reported operating profit of EUR 3.0 billion for the first quarter of 2019. This is a little ahead of our estimate of EUR 11.6 billion for the full year. And this result, which beats us, flows all the way down to net income. Management are maintaining guidance of EUR 11.5 billion for the full year, plus or minus EUR 500 million. Currently, it looks like results will be on the plus side and we are still impressed with how well management execute in this business. We maintain our EUR 200 f...
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