Talanx AG : Net profit impacted by COVID-19
>Net profit undershot expectations in Q2 due to the coronavirus - Talanx yesterday morning reported its Q2 2020 net profit, which was € 103m (-57%), below expectations (consensus: € 165m, ODDO BHF: € 145m). A significant part of the difference from the initial forecast comes from reinsurance, which is not a surprise since Hannover Re already published its Q2 net profit last Wednesday. Total insurance operating profit excl. reinsurance came in at € 131m in Q2 2020 (-23...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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