Allianz : Operating income beats forecasts in Q2, with strong revenue growth
>Strong growth in revenues - Allianz reported yesterday morning its Q2 2023 results, according to the new IFRS 17 accounting standard. In Q2 2023, group revenues came to € 39.6bn, up 8.7% l-f-l, with: 1/ brisk growth in P&C insurance (+11.4%) benefiting from significant increases in prices (+7.1%) and volumes (+4.7%); 2/ major growth in health/life insurance (+7.4%), related notably to high volumes of single premiums in the US; 3/ a small decline in AM (-2.0%). In lif...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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