For QE31/3/2019, Allianz's net profit dropped 1% q-o-q but rose 13% y-o-y to RM99 million while revenue rose 3% q-o-q or 6% y-o-y to RM1.344 billion. The Group's operating revenue rose q-o-q due to a 7%-increase in operating revenue from life insurance segment brought on by higher premiums generated from bancassurance and employee benefits channel. This offset the 1.5%-drop in operating revenue from the general insurance segment mainly due to lower gross earned premiums. The Group’s profit before tax rose 18.3% q-o-q due mainly to higher profit contribution from life insurance segment.
Table: Allianz's last 8 quarterly results
Graph: Allianz's last 53 quarterly results
Allianz (closed RM13.18 yesterday) is now trading at a PE of 11.8 times (based on last 4 quarters' EPS of 112 sen). At this PE, Allianz is deemed fairly attractive.
Allianz is in a long-term uptrend line, SS with support at RM11.80. Its immediate resistance is at the horizontal line at RM14.70.
Chart: Allianz's weekly chart as at May 23, 2019 (Source: Malaysiastock.biz)
Based on satisfactory financial performance, fairly attractive valuation and positive technical outlook, Allianz remains a good stock for long-term investment.