Allianz : Q3 2018 with beat in P/C insurance
>Q3 2018 beat driven by technical profit in P/C insurance - Allianz reported group operating profit for Q3 2018 of € 2,988m, beating our estimate (€ 2,820m) and consensus (€ 2.850m). P/C insurance op. profit surprised positively, while L/H and AM came in broadly as expected. Group net income stood at € 1,936m (annualized ROE: 12.9%). Allianz’s Solvency II level stood at a comfortable 229%, down 1pp vs. Q2 2018 (triggered by share buybacks and a negative impact of 1pp...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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