Today let's have a look at another famous insurance company:
First of all,
let's read the past 5 years performance:
The growth looked okay only,
but there is surprise at the profit:
Even the dividend also came with a surprise:
The insurance business of the company can be divided into two main segment:
The General Insurance and the Life Insurance.
Let's look at the performance of General Insurance segment first:
The reduction of GWP was because of the expiration with CIMB bancassurance partnership,
but the company still able to grow the profit.
According to above,
the company is the market leader of General Insurance,
the market shares is 11.8%.
If excluding the CIMB bancassurance partnership,
the GWP grew by 6.7% actually.
Among that,
Motor insurance consists of 63.4%:
Also,
the profit looked like increased a lot was because there was an one off impact of impairment at the year before.
Next,
let's look at the Life Insurance segment:
the market shares is 8.4%.
For the year ahead:
Especially this year the companies I invested all had growth but decreased profit...........
So did the company did as what they said?
Let's read the latest quarter financial report:
The growth looks okay.
the profit:
The profit improved a lot,
profitable growth as what the management mentioned in the annual report.
The current year prospect:
The general insurance industry growth remains weak,
as for life insurance industry:
It was mentioned that the growth rate of life insurance will be soften for the last quarter of 2019.
That's all for the important points of latest annual report and quarter report,
if you feel like something is lacking,
feel free to go to BURSA website to download and read it.
As for is it worthy to invest at ALLIANZ?
Like what I said before,
it depends on what will happen after applying the new MFRS17 accounting standard at year 2021.
Investment is about doing own thinking, making own decision.
Thanks for reading.
I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.
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