Allianz : Q2 operating profit marked by COVID
>A decline of 24% anticipated for operating profit in Q2 - Allianz is due to report its Q2 2020 net income on Wednesday 5 August before the market open. We forecast a decline of 23.8% in operating profit to € 2,398m (vs € 2,444m for the consensus, -22.4%) with: 1/ a 31% decline in operating profit in P&C to € 951m, notably due to the deterioration in the combined ratio (97.5%e vs 94.3%) impacted by charges related to COVID and the contraction in investment income, 2/...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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