Allianz Reports Strong Results for 2Q 2017, but We Are Not Convinced of Sustainability
Allianz reported second-quarter net income of EUR 2 billion, ahead of our expectations. This was a better result across the board, but we are maintaining our fair value estimate of EUR 165 per share and our no-moat rating for the moment. Though the results look very good against the prior quarter, we want to see evidence of sustained higher performance in order to be convinced of better long-term execution.In property and casualty, gross premiums increased 11%, though this was largely the resul...
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.
We have operations in 27 countries.
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