Talanx AG : A solid start to 2023 helped by some sizeable tailwind. Downgrade to Neutral
>Q1 2023 net profit came to € 423m, up by 31% - Talanx reported a solid start to 2023 along with first time IFRS 17 reporting. Q1 2023 net profit came to € 423m, up by 31% y-o-y which was helped by large claims below budget and positive effects from discounting. Solvency II ratio increased by 3%-p to 212% in the quarter. Talanx reiterated its outlook for about € 1,400m net profit for 2023 which includes some effects for possible writedowns on PE and Real Estate fund s...Talanx is a financial and management holding company. Co. is internationally active in primary insurance and reinsurance and in both property/casualty and life business. In the more than 100 years of Co.'s history, Co. has evolved from a single-line liability insurer for industry into a global insurance group with a focus on the industrial and retail lines and reinsurance business. Through its subsidiaries, Co. is engaged in five business segments: Life/Health Reinsurance; Non-Life Reinsurance; Retail Germany; Industrial Lines; and Retail International.
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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