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Research Tree provides access to ongoing research coverage, media content and regulatory news on HELVETIA HOLDING AG-REG. We currently have 3 research reports from 1 professional analysts.
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HELVETIA HOLDING AG-REG
HELVETIA HOLDING AG-REG
Solid H1 figures
05 Sep 16
Pre-tax profit was down by 5% to CHF211m for H1 16 compared to H1 15. Net premiums earned were up by 6% to CHF5.3bn. Investment income declined by 11% to CHF466m for H1 16 due to higher losses on group investments (equities). Overall income rose by 1.5% to CHF4.72bn for H1 16 compared to H1 15. Total expenses were up by 1.7% to CHF4.51bn in the same period. The net combined ratio of the non-life business improved from 92.4% for H1 15 to 91.9% for H1 16. The tax ratio came down from 23% for H1 15 to 9% for H1 16. Net attributable profit increased by 16% to CHF186m in H1 16 compared to H1 15. Underlying earnings after tax rose by 8% to CHF238m in the same period. Total equity was up by 4% to CHF4.8bn at the end of June 2016 compared to the end of 2015, mainly due to higher unrealised gains. Helvetia said that the SST ratio was in the range of 150% to 200% at the end of 2015. Helvetia said it will take a fundamental step by establishing a new corporate structure as of 1 January 2017. Alongside the existing Europe and Speciality Markets market areas, Executive Management will be supplemented by the Non-life Switzerland, Individual Life Switzerland, Group Life Switzerland and Sales Switzerland market areas.
New strategy 2020, satisfying underlying profit in 2015
14 Mar 16
Pre-tax profit was down by 14% to CHF396m for FY2015 compared to FY2014. Net premiums earned were up by 5% to CHF7.8bn. Investment income was mainly unchanged at CHF988m for FY2015. Realised gains and losses on investments were CHF117m for 2015 compared to CHF283m for 2014. Overall income rose by 1% to CHF9.1bn for 2015 compared to 2014. Total expenses were up by 2% to CHF8.7bn in the same period. The net combined ratio of the non-life business improved from 93.5% for 2014 to 92.1% for 2015. The tax ratio was up from 15% for 2014 to 22% for 2015. Net attributable profit decreased by 21% to CHF308m in 2015 compared to 2014. Underlying earnings after tax rose by 4% to CHF439m in the same period. Total equity was down by 6% to CHF4.7bn at the end of 2015 compared to the end of 2014 mainly due to lower unrealised gains, currency effects and a change in pension liabilities in Switzerland. Group Solvency I was 205% at the end of 2015 compared to 216% at the end of 2014. The dividend proposal rose from CHF18.00 for FY2014 to CHF19.00 per share for FY2015. Helvetia set up a new strategic programme “2020” as a successor to the finished “2015+” programme. The main financial targets for 2020 are a RoE of 8% to 11%, a combined ratio below 93% for the non-life business, a SST ratio of 140% to 180% and a dividend payout ratio of 40% to 50%.
Solid underlying profit
01 Sep 15
Pre-tax profit was down by 13% to CHF209m for H1 15 compared to H1 14. Net premiums earned were up by 10% to CHF5.0bn. Investment income declined by 10% to CHF522m for H1 15 due to currency effects and the low interest rate environment. Overall income rose by 6% to CHF4.65bn for H1 15 compared to H1 14. Total expenses were up by 7% to CHF4.42bn in the same period. The net combined ratio of the non-life business improved from 94.0% for H1 14 to 92.4% for H1 15. Net attributable profit decreased by 18% to CHF161m in H1 15 compared to H1 14. Underlying earnings after tax rose by 12% to CHF221m in the same period. Total equity was down by 12% to CHF4.4bn at the end of June 2015 compared to the end of 2014 mainly due to lower unrealised gains, currency effects and a change in pension liabilities in Switzerland. Group Solvency I was 200% at the end of June 2015 compared to 216% at the end of 2014.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - Morning Song 16-01-2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.