Talanx AG : Continuing growth story but technical profits have yet to improve
>FY 21 results reflect strong premium growth, but technical profits have yet to improve - We have reviewed our estimates following Talanx’s FY 2021 release. Group net profit came in ahead of expectations at € 1,011m helped by strong investment income. Group premium growth was strong at 11.8% y-o-y (FX adj.) with primary insurance operations gaining momentum. Underlying technical profits in primary insurance operations came in below our expectations and have yet to imp...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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