Allianz : Good resilience from the group in the face of the crisis
>Earnings higher than expected in Q3 - Allianz released its Q3 2020 results on Friday. Revenues came to € 31.4bn, down 6.0% l-f-l, with a fall in life insurance, but also in premiums in P&C insurance. Operating profit was € 2,907m in Q3 2020 (-2.6%), higher than expected (consensus € 2,611m, our estimate € 2,637m), with better-than-expected operating profit in P&C insurance and in life insurance. The group booked a charge for COVID losses of € 100m in Q3 in P&C insura...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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