Allianz : Good operating profit despite the strengthening of reserves at AGCS
>2019 operating profit at the high end of the group’s target range - Allianz reported its 2019 results on Friday morning. The group’s revenues rose 7.0% to € 35.5bn in Q4 2019, with strong growth in P&C insurance. Q4 2019 operating profit was € 2,751m (-0.7%), higher than expected (consensus € 2,582m, our estimate € 2,571m), with lower-than-expected operating profit in P&C insurance, but this was more than offset by a very strong increase of 36% in operating profit in...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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