06:50 AM EST, 11/09/2026 (MT Newswires) -- Berenberg highlighted Allianz's (ALV.F) "strong" full-year 2026 operating profit outlook and continued momentum in the non-life segment as it designated the German insurer its "top pick" among composites again. "Firstly, on 12 November, Allianz will, as it normally does with its Q3 results, set out more precise operating profit guidance, and we believe this will be cEUR18.4bn, which is the top end of its current EUR16.4bn-18.4bn target range," analysts said Monday, citing strong fourth-quarter currency tailwinds and asset management fees for a "very achievable" target. The research firm noted that Allianz continues to have an "attractively low risk profile," while the scale and cost control of its non-life business provides a "hard-to-beat combination" of revenue and profit expansion. Berenberg believes the company's non-life business model can sustain 6% top-line growth through 2030. "While none of these points are new, they help to explain why Allianz has delivered a 17% annual total shareholder return in the past 10 years, ahead of the 14% for the STOXX Europe 600 Insurance (SXIP) index, and they underpin our EUR684 price target," the note said. The stock's buy rating is also unchanged at Berenberg.

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