Talanx AG : Raising TP on higher estimates for Reinsurance and Industrial Lines in 24e
>Q2 2023 a mixed bag of results but comfortably on track to reach 2023 guidance - Talanx reported a mixed bag of Q2 2023 results. Group EBIT came to € 915m slightly shy of € 948m consensus and slightly ahead of our € 905m EBIT estimate. Industrial Lines and German Life insurance surprised on the upside while German P/C insurance operations and Retail International came in below expectations. With a net profit of € 827m, up 21% yoy, Talanx is well on track to deliver o...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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