reports
- Henry Heathfield
- CFA
Generali 1Q 2018: Steady as She Goes
Generali reported first-quarter 2018 operating profit of EUR 1.3 billion, just shy of a 5% increase on the prior year. The result was predominantly driven by a better nonlife insurance segment, with a very good combined ratio reported. Operating return on equity is above target, and life net inflows stand at EUR 2.4 billion. On the capital side, the Solvency II ratio was good, at 211%. These results are broadly in line with what we expected. We therefore maintain our EUR 17.70 fair value estimat...
- Jérôme VINERIER
- Jérôme VINERIER
Analyse court terme - GENERALI ASSICURAZIONI : La résistance est dép...
La tendance est toujours haussière, son niveau d'invalidation est sous 15,200 €. L'objectif est à 17,200 €.Arguments :- La résistance est dépassée.- Les cours font un nouveau plus haut, ce qui témoigne de la force de la tendance.
- Jérôme VINERIER
- Jérôme VINERIER
Analyse court terme - GENERALI ASSICURAZIONI : Support atteint
Les prix sont dans une phase de consolidation latérale sans élement directionnel net.Arguments :- Le support est atteint, un signe de force nous permettrait de changer notre avis.- La moyenne mobile, sans tendance, confirme notre avis.
- Henry Heathfield
- CFA
Generali's FY 2017 Shows Steady Progress
Generali reported operating profit of EUR 4.9 billion and net profit of EUR 2.1 billion. Life reserves were up 4%, and the nonlife division reported an encouraging 92.8% current year combined ratio, despite EUR 415 million of natural catastrophe losses. We are maintaining our EUR 17.70 fair value estimate, along with our no-moat and stable trend ratings. The cost-reduction plan has been achieved two years ahead of schedule, and unit-linked reserves grew by 12%, both helping return on equity as n...
- Jérôme VINERIER
- Jérôme VINERIER
Analyse court terme - GENERALI ASSICURAZIONI : La résistance est atte...
La tendance est toujours neutre, mais au sein de cet intervalle un mouvement de plus court terme se dessine vers le bas de la consolidation.Arguments :- La résistance est atteinte, elle cause le repli.- La moyenne mobile sert de support.
- Jérôme VINERIER
Short term view - GENERALI ASSICURAZIONI : The major support has been ...
The trend is still bullish, the invalidation level is below €14.81. The target is at €16.59.Arguments :- The major support has been reached, it causes the bounce.- The descending resistance has been breached.- The moving average is supporting prices.
- Jérôme VINERIER
Analyse court terme - GENERALI ASSICURAZIONI : Le support majeur est a...
La tendance est toujours haussière, son niveau d'invalidation est sous 14,81 €. L'objectif est à 16,59 €.Arguments :- Le support majeur est atteint, il cause le rebond.- La résistance descendante est dépassée.- La moyenne mobile sert de support.
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