Talanx AG : Q3 2019 underlying earnings improved. Downgrade to Neutral
>Q3 2019 results in line with expectations, masking better than expected underlying earnings development - Talanx’s Q3 2019 results in primary insurance were broadly in line with consensus estimates masking better underlying profit generation as Talanx’s management continued to bolster reserves in Industrial Lines and P&C Germany. Group net income came in at € 265m, ahead of our estimate (€ 213m) and consensus (€ 231m) predominantly driven by the beat in reinsurance p...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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