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• Gross insurance revenues were up by 7% to €11.4bn for Q3 23 • Net profit attributable to shareholders rose by 88% to €452m for Q3 23 • RoE was 19.0% for Q3 23, comfortably above the target of more than 10% • Primary insurance contributed 47% to group net profit • Talanx is targeting a net profit of more than €1.7bn for FY2024 which is above the old target of €1.6bn for FY2025
Companies: Talanx AG
AlphaValue
• Gross insurance revenues were up by 12% to €10.2bn for Q2 23 • Net profit attributable to shareholders rose by 11% to €404m for Q2 23 • RoE was 17.4% for Q2 23, comfortably above the target of more than 10% • Talanx upgraded the net profit target of around €1.4bn to exceed €1.4bn for FY2023
• New IFRS accounting rules with a new income statement structure from Q1 23 onwards • Gross insurance revenues were up by 6% to €10.7bn for Q1 23 • Net profit attributable to shareholders rose by 31% to €423m for Q1 23 • RoE was 18.8% for Q1 23, comfortably above the target of more than 10% • Talanx confirmed the net profit target of €1.4bn for FY2023
• Net profit was up by 16% to €1.17bn for FY2022 • Talanx released a net profit target of around €1.4bn for FY2023 • Dividend per share proposal increased from €1.60 for FY2021 to €2.00 for FY2022 • Hannover Re has been the most profitable big global reinsurance company for years and remains the backbone of Talanx
• Net premiums earned rose by 21% to €11.5bn for Q3 22 compared to Q3 21 • Hurricane Ian cost €350m in Q3 22 • Net profit attributable to shareholders increased by 27% to €225m for Q3 22 • Talanx confirmed the net profit target range of between €1.05bn and €1.15bn for FY2022
• Net earned premiums rose by 17% to €10.9bn for Q2 22 • €346m of bulk reserves in H1 22 related to the Ukraine situation for FY2022 • Net profit attributable to shareholders increased by 13% to €304m for Q2 22 • Talanx confirmed the net profit target range of between €1.05bn and €1.15bn for FY2022
• Net earned premiums rose by 15% to €10.3bn for Q1 22 • €150m of bulk reserves related to the Ukraine situation for FY2022 • Net profit attributable to shareholders declined by 8% to €256m for Q1 22 • Talanx confirmed the net profit target range of between €1.05bn and €1.15bn for FY2022
• Net profit was up by 50% to €1.0bn for FY2021 • Talanx confirmed its net profit target range of €1.05bn to €1.15bn for FY2022 • Dividend per share proposal increased from €1.50 for FY2020 to €1.60 for FY2021 • Hannover Re has been the most profitable big global reinsurance company for years and remains the backbone of Talanx
• Gross written premiums rose by 12% to €11.1bn for Q3 21 • High large losses of €956m for Q3 21 • Net profit attributable to shareholders decreased by 9% to €177m for Q3 21 versus Q3 20 but was clearly above consensus forecast • Talanx expects now a net profit at the upper end of the €900-950m target range for FY2021 • New profit target for FY2022, a net profit range between more than €1,050m and €1,150m
• Net profit attributable to shareholders rose from €103m for Q2 20 to €269m for Q2 21 • Net COVID-19 expenses were down from €380m for Q2 20 to €122m for Q2 21 • Floods in Western Europe should lead to net claims of somewhat more than €300m in Q3 21 • Talanx has lifted its FY2021 outlook for net income to €900-950m range from €800-900m
• Net profit attributable to shareholders increased by 25% to €277m for Q1 21 • Large loss expenses from the COVID-19 pandemic of €157m in Q1 21 were offset by one-off gains • Net earned premiums rose by 8% to €9.0bn • Talanx refined its outlook for group net income in FY2021 at the upper end of the €800–900m target range
Net profit was down by 27% to €673m for FY2020 Talanx confirmed its net profit target range of €800m and €900m for 2021 Dividend per share proposal for FY2020 is unchanged at €1.50 compared to FY2019 Hannover Re has been the most profitable big global reinsurance company for years and remains the backbone of Talanx
• Net profit attributable to shareholders decreased by 27% to €194m for Q3 20 • Net earned premiums rose by 3% to €8.6bn for Q3 20 • Net COVID-19 expenses were €252m for Q3 20 compared to €430m for Q2 20 • New net profit targets of clearly above €600m for FY2020 and a range between more than €800m and €900m for FY2021 • Hannover Re’s stake in talanx is valued at €8.8bn, whereas talanx is valued at only €7.9bn
Companies: TLX TLX TLX TLX TNX TNXXF
• Net profit attributable to shareholders decreased by 57% to €103m for Q2 20 versus Q2 19 • Net earned premiums rose by 4% to €9.5bn for Q2 20 • Net COVID-19 expenses were €430m for Q2 20 compared to €228m for Q1 20 • Hannover Re has been the most profitable big global reinsurance company for years and remains the backbone of talanx • Hannover Re’s stake in talanx is valued €8.5bn, whereas talanx is valued at only €8.0bn
• Net profit attributable to shareholders decreased by 5% to €223m for Q1 20 • Net earned premiums rose by 6.5% to €8.35bn • Large loss expenses from the COVID-19 pandemic were €313m in Q1 20 • Talanx cancelled its net profit target range of €900m to €950m for 2020 two weeks ago • Hannover Re has been the most profitable big global reinsurance company for years and remains the backbone of Talanx
Research Tree provides access to ongoing research coverage, media content and regulatory news on Talanx AG. We currently have 1 research reports from 3 professional analysts.
Proposed share-for-share merger with Northgate
Companies: Redde Northgate PLC
Arden Partners
In H124, Record posted steady management fee growth of 3% y-o-y to £19.6m as the company benefited from a higher assets under management equivalent (AUME) base. Total revenues, however, were down 3% as performance fees in H123 outweighed those earned in H124. Profit before tax was down 17% y-o-y to £6.3m as Record incurred costs related to its expansion and modernisation initiatives. In line with its progressive dividend policy, Record increased its dividend by 5% y-o-y to 2.15p per share. After
Companies: Record plc
Edison
Lowland Investment Company’s (LWI’s) unconstrained, multi-cap investment policy differentiates it from most peers in the AIC UK Equity Income sector. It offers investors broad market exposure, outside of the large, traditional ‘income stocks’ at a 13% discount to NAV. The underperformance of small- and mid-cap companies versus larger peers has slowed and a turnaround would be very positive for LWI. Portfolio returns are already benefiting from acquisition activity, spurred by low valuations, and
Companies: Lowland Investment Co PLC
Companies: CML FDEV NRR SSPG RMV AO/ ZIN
Shore Capital
Companies: Ramsdens Holdings PLC
Liberum
AUM was up by £2.2bn or 6% over H1-24, reaching £39.6bn on 31 Mar 24 (30 Sep 23: £37.4bn). This is slightly above the trajectory required to meet our FY24 AUM forecast of £41.1bn (+10% annual growth), but taking a cautious approach our FY24 forecasts remain unchanged. A very strong investment performance was the growth driver in H1, contributing +£4.9bn (+13%) while net outflows were £2.7bn. We maintain our strong conviction that medium-to-long term structural factors favour Impax, but also fla
Companies: Impax Asset Management Group plc
Equity Development
Foxtons Group plc first quarter revenue rose 9% to £35.7m (1Q23: £32.9m) with growth delivered across all business segments. Trading is in line with management's expectations.
Companies: Foxtons Group Plc
Zeus Capital
PCI Pal’s FY23 results show revenue growth of +25% to £14.9m, gross profit growth of +31% to £13.1m at a margin of 88%, and an outlook confirming robust momentum in H1 24. The FY23 results are as expected following the August trading update, and FY23 Total Annual Contract Value (TACV) is +23% yoy to £16.4m, with ARR +14% yoy to £12.6m due to £3.1m of contracts in deployment. We expect ARR will increase +35% and +31% to £17.0m and £22.2m in FY24 and FY25, as management lands and expands following
Companies: PCI-PAL PLC
Cavendish
TRY: a unique way to capture a recovery in property valuations...
Companies: TR Property Investment Trust PLC Ordinary Shares Class GBP
Kepler | Trust Intelligence
Companies: AEW UK REIT PLC
Companies: PensionBee Group PLC
Target Healthcare REIT’s mid-year rebasing of DPS sought to establish a base for growth on a fully covered basis. With FY23 results in line with previous indications, and progress continuing, the company has increased the quarterly rate of DPS by 2% from Q124. With rent collection restored, we expect rental growth, development completions and fixed debt costs to support continued, progressive, fully covered dividend growth.
Companies: Target Healthcare REIT PLC
Foresight Solar Fund (FSFL) celebrated its 10-year anniversary of listing on the London Stock Exchange with decade-high cash distributions from assets of £120.4m in its FY23 results (year end 31 December). FY23 also saw FSFL’s divestment programme come to fruition with the sale of a 50% stake in its Spanish Lorca portfolio at a 21% premium to its holding value. The proceeds of this divestment, along with free cash, were used to pay down the fund’s variable rate debt via its revolving credit faci
Companies: Foresight Solar Fund Limited GBP
On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div
Companies: PTAL GHH IGP MSLH PINE NXQ EQLS NXR AXL
Companies: Equals Group Plc
Canaccord Genuity
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