Allianz : High cost of natural catastrophes in Q3 but operating profit should stay at the upper end of the full-year target range
>We forecast operating profit at € 3.2bn in Q3 - Allianz is set to report its Q3 2023 results on 10 November. We forecast operating profit at € 3,200m (-21.2% vs Q3 2022 under IFRS 17), a shade below the consensus (€ 3,224m, -20.6%). In P&C insurance, we expect a sharp decline in operating profit at € 1,417m (-26.5%) in line with the consensus (€ 1,411m) due to a deteriorating in the combined ratio. We forecast a combined ratio of 95.8% (in line with the consensus) 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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