Talanx AG

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.
  • TickerTLX
  • ISINDE000TLX1005
  • SectorNonlife Insurance
  • CountryGermany

Analysts

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/12/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/11/2019

...

Roland Pfaender,MBA,CFA,CCRA

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...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/06/2019

...

Roland Pfaender,MBA,CFA,CCRA

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...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/06/2019

...

Roland Pfaender,MBA,CFA,CCRA

Talanx AG : Q3 2019 results could be on the soft side

>We forecast Q3 2019 net profit of € 213m, up 318% y-o-y - Talanx is due to release its Q3 2019 results on 11 November. We expect the company to report net attributable profit of € 213m, up 318% y-o-y on undemanding comps and below the consensus (€ 231m). Our annualized RoE estimate stands at 8.5% for Q3 2019e and compares to a consensus ROE expectation of 9.5%.Industrial lines may have suffered from above average claims - For the industrial lines seg...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : Insurance groups better equipped to ride out the low interest rate tsunami

Insurers are better equipped than a few years ago to cope with the low interest rate environment. With earnings per share set to continue to grow, the market is likely to focus primarily on solvency margin levels. We believe that they should remain within the target ranges as long as the German 10-year rate does not fall below -1.5%. We reiterate our Buy rating on AXA (target price of € 28). - >The fall in interest rates affects solvency margins, but insurers have leeway - ...

1 director bought

A director at Talanx Ag bought 3,230 shares at 35.444EUR and the significance rating of the trade was 62/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board mem...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/12/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/11/2019

...

Benoit Valleaux ...
  • Emira Sagaama
  • Harald Eggeling
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/09/2019

...

Benoit Valleaux ...
  • Emira Sagaama
  • Harald Eggeling
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/08/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/16/2019

...

TALANX AKTGSF. with less fundamental stars is reduced to Neutral

TALANX AKTGSF. (DE), a company active in the Full Line Insurance industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date July 26, 2019, the closing price was EUR 38.44 and its expected value was estimated at EUR 38.0...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Talanx - AGM 09 May 2019

General: In line with German law, the auditor of an insurance company like Talanx is not appointed by the AGM but the Supervisory Board. Item 4: The remuneration system for the Management Board has not yet been put to shareholder approval since the Company's IPO in 2012. We urge the Company to review the remuneration system and to submit it to shareholder approval at the next AGM. In line with our guidelines we would in principle recommend opposing the discharge of the Chairman of the Supervisory Board's Personnel Committee ("Remuneration Committee"), Herbert K. Haas. However, as the discharg...

Talanx – Proxinvest Corporate Governance Rating ® : D

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...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Stocks

EAFE > EM; Add exposure to Japan Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). Below we highlight attractive and actionable themes within developed int'l: • Japan, Switzerland, Australia, Canada. Major Japanese indexes have been underperforming for nearly two years but are making bullish price and RS inflections and exhibit early signs of bottoming. Switzerland, Australia, and Canada are all trading at multi-year highs and are among the most attractive coun...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

More cracks begin to show Weaker than expected data out of China and an as-expected 0.1% preliminary GDP contraction for the 2nd quarter in Germany has global equities back on the defensive, with the MSCI ACWI, ACWI ex-US, and EAFE back near logical support. In last week's Int'l Compass we noted that some cracks are beginning to show in the form of STOXX 600 Banks and Brent crude breakdowns, which led us to believe global equities are vulnerable to a breakdown. Below we highlight more cracks that are showing, which only increases the likelihood that equities may be poised to break down. • Mo...

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