Talanx AG : Operating improvements to drive profits in 2019e
>Final full-year 2018 results in line with preliminary figures - Talanx reported final full-year 2018 results in line with its preliminary results. Group net income stood at € 703m (up 4.7% yoy), only slightly shy of our earlier estimate of € 711m. The group combined ratio for 2018 stood at 98.2%, down by 2.2pp yoy. The RoI stood at 3.3%, down from 4.0% in 2017 due to lower ZZR funding needs and lower realized gains. The group RoE for 2018 stood at 8.0%, up 0.5pp yoy....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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