Allianz May Fill Some Voids In The Insurance Market

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Allianz May Fill Some Voids In The Insurance Market

By Zacks Investment Research on March 16, 2009 | More Posts By Zacks Investment Research | Author's Website

Allianz Aktiengesell (AZ) has over 75 million customers and a presence in more than 70 countries. It is the largest insurer in Germany with a market share of 18% of the property and casualty insurance in that country and is a leader in Europe. Allianz is also one of the top insurers worldwide. Its clientele includes nearly half of the Fortune 500 companies.

The downfall of other large financial institutions could provide Allianz the opportunity to increase market share. The sale of Dresdner Bank will reduce earnings volatility for the group going forward.

We are maintaining our Buy recommendation on Allianz after the company’s full-year results. The recent sharp drop in share price has taken the stock to a very attractive level. Our target price is $10.00.

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