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Good Q3 16 figures, net new money inflow but lower transparency

  • 11 Nov 16

Allianz has cancelled the Q1 and Q3 Interim Reports from 2016 onwards using the change in the EU Transparency Directive. The information given regarding Q1 16 developments are therefore rather limited and refer mainly to the internal operating profit calculation of Allianz which can’t be fully restated to the normal income statement. Net profit attributable to shareholders increased by 36.5% to €1.86bn for Q3 16 versus the same period last year. Premiums earned were slightly up by 1% to €17.3bn for Q3 16. Operating investment result rose by 43% to €6.4bn for Q3 16 compared to Q3 15. Fee and commission income was flat at €2.7bn in Q3 16. Insurance claims increased by 1.8% to €12.7bn in Q3 16. Changes in insurance reserves rose by 89% to €3.75bn for Q3 16. Operating profit increased by 18% to €2.9bn for Q3 16 compared to Q3 15. Non-operating items were a profit of €174m for Q3 16 compared to a loss of €17m for Q3 15. Pre-tax profit increased by 29% to €2.8bn for Q3 16. The tax ratio declined from 33% for Q3 15 to 30% for Q3 16. The Solvency II ratio was down from 200% at the end of 2015 to 186% at end September 2016. Shareholders’ equity rose by 11% to €70.1bn in the same period, partly due to higher unrealised gains. Third-party assets under management were up by 4% to €1,327bn at end September 2016 compared to the end of 2015. Net new money inflow was €6.2bn in Q3 16 versus an outflow of €14.8bn for Q3 15. Allianz said it remains on track to achieve the operating profit outlook for the full year of €10.5bn, +/- €500m.

Solid Q1 16 figures but lower transparency

  • 11 May 16

Allianz has cancelled the Q1 and Q3 Interim Reports from 2016 onwards using the change in the EU Transparency Directive. The information given regarding Q1 16 developments are therefore rather limited and refer mainly to the internal operating profit calculation of Allianz which can’t be fully restated to the normal income statement. Net profit attributable to shareholders increased by 20.5% to €2.2bn for Q1 16 versus the same period last year. Premiums earned were down by 5% to €17.4bn for Q1 16. Operating investment result declined by 21% to €6.5bn for Q1 16 compared to Q1 15. Fee and commission income decreased by 5% to €2.5bn in Q1 16. Insurance claims were down by 2.5% to €12.5bn in Q1 16. Changes in insurance reserves declined by 28% to €4.4bn for Q1 16. Operating profit decreased by 3.5% to €2.76bn for Q1 16 compared to Q1 15. Non-operating items were a profit of €278m for Q1 16 compared to a loss of €61m for Q1 15. Q1 16 benefited from a much better non-operating investment result due to higher realisations, mainly on equity investments, as well as a positive contribution from hedging-related activities. Pre-tax profit increased therefore by 9% to €3.03bn for Q1 16. The tax ratio declined from 31% for Q1 15 to 24% for Q1 16. The Solvency II ratio was down from 200% at the end of 2015 to 186% at end March 2016. Shareholders’ equity rose by 7% to €67.4bn in the same period, partly due to higher unrealised gains. Third-party assets under management were down by 3% to €1,242bn at end March 2016 compared to the end of 2015. Net money outflow was €9bn in Q1 16 versus €62bn for Q1 15. Allianz said it remains on track to achieve the operating profit outlook for the full year of €10.5bn, +/- €500m.