Allianz : Good operating momentum in Q1
>Strong growth in P&C insurance - On Friday morning Allianz reported its Q1 2023 earnings, under IFRS 17 for the first time. Business-wise, we note strong premium growth in P&C, with 11.1% l-f-l, while prices for renewed business continue to show significant increases (+5.6% in Q1). In life insurance, business volumes dropped by 3.4% l-f-l, but with an excellent new business margin (5.5% in Q1 2023, up 60bp under the new definition). In AM, net inflows came in at € 14...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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