Report
Benoit Valleaux

Generali : Bonne résistance attendue du RO au T1

>Erosion attendue du RO avec une baisse plus marquée du RN - Generali publiera jeudi 21 mai prochain avant Bourse son RN du T1 2020. Nous prévoyons des primes de 18.7 Md€, en recul de 1%, avec une hausse prévue de 4% en assurance dommages et une baisse de 3% en assurance vie. Nous attendons un RO de 1 312 M€, en baisse de 2.5% (vs consensus de 1 297 M€), avec un recul de 7%e en assurance, compte tenu d’une érosion de la marge financière (vs un niveau élevé au T1 2019)...
Underlying
Assicurazioni Generali S.p.A.

Assicurazioni Generali is the parent company for The Generali Group (the Group), an insurance and financial services provider. The commercial offer is composed of savings and pure risks policies, which constitute the majority of the portfolio, which includes protection and pension funds. In the non-life sector the Group is focused primarily on the retail market. In addition, through the Europ Assistance Group, Co. is engaged in services in motor, travel, health, home and family. The Group has also expanded its business from insurance to a range of asset management, property and financial services.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

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