Allianz SE

Allianz is engaged in the provision of a range of insurance and asset management products and services. Co. has three business segments: Property-Casualty, which provides insurance products to both private and corporate customers, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit and travel insurance; Life/Health, which provides life and health insurance products including annuities, endowment and term insurance, unit-linked and investment-oriented products and private health and supplemental health and long-term care insurance; and Asset Management, which provides institutional and retail asset management products and services.
  • Ticker840400
  • ISINDE0008404005
  • SectorNonlife Insurance
  • CountryGermany

Analysts

Olivier Pauchaut

ALLIANZ: Always showing positive surprises is an impossible job… | BUY | EUR235

ALLIANZ - BUY | EUR235(+27%) Always showing positive surprises is an impossible job… Decent but unexciting Q4 performance Strong solvency, nice dividend and a new buy-back programme Slightly disappointing 2019 guidance

Allianz – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Roland Pfaender

Allianz : Allianz likely delivered on its 3-year renewal agenda targets

>Forecasting net profit of € 1,732m for Q4 2018e - Allianz is due to report its Q4 2018 results on 15 February. We estimate group Q4 2018e results as follows: i/ operating profit of € 2,762m, up 0.1% yoy (consensus: € 2,720m); ii/ net income of € 1,732m, up 21.3% yoy (consensus: € 1,700m), implying an annualized ROE of 11.3% for the quarter; iii/ a decline of the Solvency II ratio from 229% to 223% in Q4 2018e triggered by credit spread widening and a decline of equit...

Allianz SE: Semi-annual update

Our credit view reflects Allianz SE's very strong franchise, strong operating profitability, capitalisation and very strong financial flexibility

Allianz SE: Semi-annual update

Our credit view reflects Allianz SE's very strong franchise, strong operating profitability, capitalisation and very strong financial flexibility

Allianz SE: Update following rating affirmation

FINANCIAL INSTITUTIONS CREDIT OPINION 12 October 2017 Update RATINGS Allianz SE Domicile Germany Long Term Rating Aa3 Type Insurance Financial Strength - Fgn Curr Outlook Stable Please see the  ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Dominic Simpson 44-20-7772-1647

Allianz SE: Joint venture with LV increases Allianz's presence in UK non-life, albeit mainly in very competitive retail motor sector

FINANCIAL INSTITUTIONS ISSUER COMMENT 7 August 2017 RATINGS Allianz SE Insurance Financial Strength Aa3 Senior Debt Aa3 Subordinated Debt A2 Short-term P-1 Outlook Stable Source: Moody's Investors Service KEY METRICS: Allianz SE 2016 2015 2014

Allianz SE: Semi-Annual Update

FINANCIAL INSTITUTIONS CREDIT OPINION 21 July 2017 Update RATINGS Allianz SE Domicile Germany Long Term Rating Aa3 Type Insurance Financial Strength - Fgn Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Dominic Simpson 44-20-7772-1647 VP-Sr Credit Officer domini

Olivier Pauchaut

ALLIANZ: Always showing positive surprises is an impossible job… | BUY | EUR235

ALLIANZ - BUY | EUR235(+27%) Always showing positive surprises is an impossible job… Decent but unexciting Q4 performance Strong solvency, nice dividend and a new buy-back programme Slightly disappointing 2019 guidance

Roland Pfaender

Allianz : Allianz likely delivered on its 3-year renewal agenda targets

>Forecasting net profit of € 1,732m for Q4 2018e - Allianz is due to report its Q4 2018 results on 15 February. We estimate group Q4 2018e results as follows: i/ operating profit of € 2,762m, up 0.1% yoy (consensus: € 2,720m); ii/ net income of € 1,732m, up 21.3% yoy (consensus: € 1,700m), implying an annualized ROE of 11.3% for the quarter; iii/ a decline of the Solvency II ratio from 229% to 223% in Q4 2018e triggered by credit spread widening and a decline of equit...

Roland Pfaender

Allianz : CMD points to growth in retail and SME biz and lower unit costs

>CMD points to up to 7% EPS growth p.a. in 2018-2021e - Allianz held a CMD on Friday 30 November with the focus on simplicity and productivity. Management is targeting organic group operating profit growth of 4% plus (CAGR 2018-2021e). The main contributors should be P/C insurance and asset management with 5% operating profit CAGR each. L/H insurance should contribute 2% operating profit CAGR in the three-year period (adjusted 3%). Productivity gains should account fo...

Roland Pfaender

Allianz : Upcoming CMD: focus on simplicity and productivity

>Simplification of products and processes to boost productivity - Allianz will hold a CMD on Friday, 30 November. The theme of the event, ‘Simplicity Wins,’ already indicates the way forward. We believe Allianz aims to harmonize and simplify its product portfolio in the group (predominantly in P/C insurance) and thus lower unit costs. This in turn should have a positive impact on technical profits and growth. Equally important, Allianz could also target a significant...

Allianz

Antoine Boivin-Champeaux ...
  • Bruno Cavalier
  • Jerôme Bodin
  • Martial Descoutures
  • Olfa Taamallah
  • Pierre Corby
  • Roland Pfaender
  • Stephane Houri
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/03/2018

...

Antoine Boivin-Champeaux ...
  • Bruno Cavalier
  • Jerôme Bodin
  • Martial Descoutures
  • Olfa Taamallah
  • Pierre Corby
  • Roland Pfaender
  • Stephane Houri
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/12/2018

...

Anis Zgaya ...
  • Emira Sagaama
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/28/2018

...

Anis Zgaya ...
  • Emira Sagaama
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/11/2018

...

Allianz

Allianz

Allianz

Allianz

ALLIANZ SE sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of ALLIANZ SE (DE), a company active in the Full Line Insurance industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 9, 2018, the closing price was EUR 190.94 and its potential was estimated at EUR 202.06.

MarketLine Department

Assicurazioni Generali SpA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

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Talanx AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's Talanx AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Talanx AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken b...

MarketLine Department

MetLife, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

MetLife, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's MetLife, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by MetLife, Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity ...

MarketLine Department

Swiss Life Holding Ltd - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Swiss Life Holding Ltd - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's Swiss Life Holding Ltd Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Swiss Life Holding Ltd since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and...

Allianz – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 09/05/2018

General: In line with German law, the auditor of an insurance company like Allianz is not appointed by the AGM but the Supervisory Board. Item 11: We recommend to oppose the proposed increase in Supervisory Board members' remuneration as we assess the absolute amount of remuneration under the amended system as being significantly above market practice.

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 03/05/2017

Board elections: The former CEO, Mr. Diekmann is proposed to be elected to the Company's Supervisory Board effective 7 May 2017. At this day, the statutory coolingoff period of two years for former executives will have expired. Up until then, the current Chairman of the Board, Dr. Perlet, is proposed to be re-elected. He will step down effective 6 May 2017.Items 6b and 6c: We recommend to oppose the elections of Mr. Diekmann and Ms. Boissart to the Supervisory Board due to our concerns over aggregate time commitments.

Matthieu DRIOL

Short term view - ALLIANZ : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €180.02.

Matthieu DRIOL

Analyse court terme - ALLIANZ : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 180,02 €.

Matthieu DRIOL

Analyse court terme - ALLIANZ : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 180,02 €, puis 172,60 €. Le franchissement de 198,53 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - ALLIANZ : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €180.02, then €172.60. Passing €198.53 would question the continuation of the fall.

Valérie GASTALDY

Analyse moyen terme - ALLIANZ : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 168,20 €. La tendance serait remise en cause par la rupture de 168,20 €.

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