Report
Benoit Valleaux

Allianz : Allianz prioritises dividend in capital return strategy

>Operating profit lower than foreseen in P&C, but better in life and AM - Allianz reported its 2023 results last Friday. Operating profit came in at € 3.765bn in Q4 2023 (vs +17.0% vs Q4 2022 in IFRS 17), slightly ahead of expectations (consensus € 3.672bn, our forecast € 3.719bn). Revenues totalled € 39.6bn (+7.8%). Operating profit in P&C came to € 1.608bn in Q4 (+1.6%), 11.6% short of the consensus due to a combined ratio of 94.9% (vs consensus 93.9%). The high co...
Underlying
Allianz SE

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

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