Allianz : Solid Q3 2019 results but outlook looks more challenging
>Q3 2019 results came in slightly above expectations - Allianz reported Q3 2019 group operating profit of € 2,984m, beating the consensus (€ 2,965m) and matching our estimate (€ 2,985m). The beat was driven by asset management, life insurance and corporate line items. Group net income stood at € 1,947m (annualized ROE: 10.9%) and thus ~5% above the consensus estimate. Allianz’s Solvency II level stood at 202%, down 13pp q1eo1eq, below the consensus estimate of 205% (SII...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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