Allianz Reports a Strong Final Quarter to 2016
Allianz reported a strong set of fourth-quarter results across all divisions. The restructuring of FFIC is on track, the company's capital position is still very strong, the disposal of Korea in life is complete, and the asset management arm PIMCO is returning to strength. We maintain our fair value estimate of EUR 164 per share and no-moat rating.The cost income ratio within PIMCO has come in below 60% and operating profit is stable. Allianz assets under management have increased 6.1%, and out...
Allianz is engaged in the provision of a range of insurance and asset management products and services. Co. has three business segments: Property-Casualty, which provides insurance products to both private and corporate customers, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit and travel insurance; Life/Health, which provides life and health insurance products including annuities, endowment and term insurance, unit-linked and investment-oriented products and private health and supplemental health and long-term care insurance; and Asset Management, which provides institutional and retail asset management products and services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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