Allianz Reports Strong Set of Nine-Month Results
Allianz reported a good set of nine-month results for 2017. Operating profit was slightly below our expectations at EUR 8.337 billion, and the combined ratio was affected by the higher incidence of natural catastrophe events. However, Allianz’s asset management division continued to be driven by third-party inflows that increased to EUR 106 billion. We are increasing our fair value estimate to EUR 175 per share to account for the time value of money, and we maintain our no-moat rating.Profitabi...
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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