Allianz : P/C insurance continues to drive Allianz’s profits
>Q1 2019 results ahead of our estimates and consensus based on strong P/C operating profit - Allianz reported Q1 2019 group operating profit of € 2,962m, beating both our estimate (€ 2,835m) and consensus (€ 2.855m). In P/C insurance, operating profit surprised positively but came in below expectations in AM. L/H insurance operating profit stood moderately above the consensus estimate. Group net income stood at € 1,969m (annualized ROE: 12.3%) and thus ~4% above the c...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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