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

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

Olivier Pauchaut

FINANCIALS & FINTECH Allianz is our Q2 Top Pick

Back on Q1 2019 What we see for Q2 2019 New fair values

Expert Corporate Governance Service (ECGS)

Allianz SE - 8 May 2019

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 5: Approval is sought for the new remuneration system for the Management Board which is applicable since financial year 2019. The new remuneration system is considered as an improvement compared to the previous remuneration system due to a reduction of complexity and the introduction of share ownership guidelines as well as malus and clawback provisions. However, we have concerns over the absolute level and structure of remuneration being paid to Manag...

Henry Heathfield

Morningstar | Turkey Turnaround for Allianz and Traditional Life Investment Margin Headwinds Persist

While we think Allianz is one of the best-run multiline insurance companies, life and health insurance is its main problematic business. Allianz has three main business units, nonlife insurance, life insurance, and asset management. The nonlife business contributes around 45% to operating profit, while life and health insurance and asset management each add around 35% and 20%, respectively. In the nonlife business, Allianz sells motor, accident, property, general liability, travel insurance, and assistance services. From a reporting standpoint, nonlife is broken down into geographies: German-s...

Henry Heathfield

Turkey Turnaround for Allianz and Traditional Life Investment Margin Headwinds Persist

Allianz reported a very good set of fourth-quarter and full-year 2018 results. The division that has not performed that well within these results has been life and health, but that comes down quite specifically to one product line. The non-life division continues to really impress us, and management has delivered on its underwriting target. While the asset management results are mixed with base-line profitability up, there are encouraging signs for the business unit. We maintain our EUR 175 fair...

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

Henry Heathfield

Morningstar | Turkey Turnaround for Allianz and Traditional Life Investment Margin Headwinds Persist

While we think Allianz is one of the best-run multiline insurance companies, life and health insurance is its main problematic business. Allianz has three main business units, nonlife insurance, life insurance, and asset management. The nonlife business contributes around 45% to operating profit, while life and health insurance and asset management each add around 35% and 20%, respectively. In the nonlife business, Allianz sells motor, accident, property, general liability, travel insurance, and assistance services. From a reporting standpoint, nonlife is broken down into geographies: German-s...

Henry Heathfield

Turkey Turnaround for Allianz and Traditional Life Investment Margin Headwinds Persist

Allianz reported a very good set of fourth-quarter and full-year 2018 results. The division that has not performed that well within these results has been life and health, but that comes down quite specifically to one product line. The non-life division continues to really impress us, and management has delivered on its underwriting target. While the asset management results are mixed with base-line profitability up, there are encouraging signs for the business unit. We maintain our EUR 175 fair...

Henry Heathfield

Morningstar | Allianz's FY 2018: Expenses Drive Non-Life; Low Investment Margin Pulls Down Life and Health

Allianz reported a very good set of fourth-quarter and full-year 2018 results. The division that has not performed that well within these results has been life and health, but that comes down quite specifically to one product line. The non-life division continues to really impress us, and management has delivered on its underwriting target. While the asset management results are mixed with base-line profitability up, there are encouraging signs for the business unit. We maintain our EUR 175 fair value estimate for the time being until the business publishes full balance sheet data on March 8, ...

Henry Heathfield

Allianz's FY 2018: Expenses Drive Non-Life; Low Investment Margin Pulls Down Life and Health

Allianz reported a very good set of fourth-quarter and full-year 2018 results. The division that has not performed that well within these results has been life and health, but that comes down quite specifically to one product line. The non-life division continues to really impress us, and management has delivered on its underwriting target. While the asset management results are mixed with base-line profitability up, there are encouraging signs for the business unit. We maintain our EUR 175 fair...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/18/2019

With unanswered questions accumulating every day on the theme of Brexit, one thing seems certain: the market, without having fallen into blissful optimism, is far from having priced in a hard Brexit. Recent history (the 2016 referendum) shows that the immediate shock in the event of an unanticipated disorderly exit would be around 11% on the eurozone indices. The European political discount indicates a relative, in euros, drop of 7% vs the US. The impact on the markets would not be un...

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.

Olivier Pauchaut

FINANCIALS & FINTECH Allianz is our Q2 Top Pick

Back on Q1 2019 What we see for Q2 2019 New fair values

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QBE Insurance Group Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

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Expert Corporate Governance Service (ECGS)

Allianz SE - 8 May 2019

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 5: Approval is sought for the new remuneration system for the Management Board which is applicable since financial year 2019. The new remuneration system is considered as an improvement compared to the previous remuneration system due to a reduction of complexity and the introduction of share ownership guidelines as well as malus and clawback provisions. However, we have concerns over the absolute level and structure of remuneration being paid to Manag...

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.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

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.

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