Allianz : Solid operating profit expected in Q2
>Strong net income growth forecast - Allianz is due to post its Q2 2023 results on 10 August. It will report under the new IFRS 17 accounting standards. We forecast operating profit of € 3.587bn in Q2 2023 (+1.6% pro-forma), very slightly below the consensus (€ 3.628bn). In P&C insurance, we expect operating profit of € 1.766bn (-1.3% vs Q2 2022), slightly short of the consensus (€ 1.819bn). We forecast a combined ratio of 93.0%, which marks a slight deterioration (+0...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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