{"id":65405,"date":"2026-07-24T05:40:20","date_gmt":"2026-07-24T05:40:20","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=65405"},"modified":"2026-07-24T05:40:20","modified_gmt":"2026-07-24T05:40:20","slug":"allianz-se-alizf","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/07\/24\/allianz-se-alizf\/","title":{"rendered":"Allianz SE (ALIZF)"},"content":{"rendered":"<p id=\"ALIZF\"><em>30 June 2026<\/em><\/p>\n<p><strong>Allianz SE (ALIZF.OTC)<\/strong> provides property-casualty insurance, life\/health insurance, and asset management products and services worldwide.<\/p>\n<p>The company&#8217;s Property-Casualty segment offers motor liability, accident, fire and property, general liability, credit, and travel insurance, as well as assistance services, to private and corporate customers.\n<\/p>\n<p>Its Life\/Health segment provides a range of life and health insurance products on an individual and group basis, including annuities, endowment and term insurance, unit-linked and investment-oriented products, private and supplemental health, and long-term care insurance.<\/p>\n<p>The Asset Management segment offers institutional and retail asset management products and services to third-party investors, comprising equity and fixed-income funds, cash, and multi-asset funds, and alternative investment products, including real estate, infrastructure debt\/equity, real assets, liquid alternatives, and solutions business. In addition, it provides banking services for retail clients and digital investment services.<\/p>\n<p>Allianz SE was founded in 1890 as a transport and accident insurance firm by Carl von Thieme and Wilhelm von Finck, the founders of Munich Re (MURGY). It expanded into Europe and North America, was listed in Berlin, and added the life business in the 1920s. After World War II, Allianz lost its foreign business and was forced to relocate its head office to Munich. It set about reacquiring its foreign interests, starting with Austria, and became the largest European insurer during the postwar boom.<\/p>\n<h2>Market Position<\/h2>\n<p>Customers in the insurance business tend to shop around based on price, and insurers have limited pricing power. Return on invested capital (ROIC) at 15.9% is not in the league of Progressive (30.3%), but is close to Zurich Insurance AG (ZURVY) at 16.7%, and well above Sun Life (SLF) at 10.5%, Berkshire Hathaway (BRK.A) at 9.3%, AXA (AXAHF) at 6.7%, and Swiss Life (SWSDF) at 6.1%.<\/p>\n<h2>Growth &amp; Earnings<\/h2>\n<p>ALIZF has demonstrated strong revenue and earnings growth over the past 3 years, averaging 25.9% and 21.4%, respectively, and trades at a reasonable forward P\/E of 13.3x earnings.<\/p>\n<p>Profit margins weakened during the COVID-19 pandemic, but have since rebounded to new highs.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-27-ALIZF-sales-margins.png?resize=525%2C404&#038;ssl=1\" alt=\"Allianz (ALIZF) Revenue &amp; Profit Margins\" width=\"525\" height=\"404\" \/><\/p>\n<h2>Financial Position<\/h2>\n<p>The company&#8217;s Debt-Equity ratio is reasonable at 0.53, and it generates healthy free cash flow.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-27-ALIZF-debt-nbv.png?resize=525%2C404&#038;ssl=1\" alt=\"Allianz (ALIZF) Debt-Equity Ratio &amp; Book Value per share\" width=\"525\" height=\"404\" \/><\/p>\n<h2>Dividends<\/h2>\n<p>Allianz&#8217;s forward dividend yield is respectable at 4.4%, and dividend growth since 2016 has averaged 8.4%. Using the <a href=\"https:\/\/thepatientinvestor.com\/index.php\/gordon-growth-model\/\">Gordon Growth Model<\/a>, we combine the two for a total projected return of 12.8%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-27-ALIZF-eps-dps.png?resize=525%2C404&#038;ssl=1\" alt=\"Allianz (ALIZF) EPS &amp; Dividends\" width=\"525\" height=\"404\" \/><\/p>\n<h2>Chart<\/h2>\n<p>Allianz (ALIZF) is in a long-term uptrend on the monthly chart, holding above its 12-month weighted moving average. The stock has consolidated between 400 and 450 over the past 14 months, and a breakout above 450 would signal another advance. The Trend Index has declined during the consolidation, and an upturn would reinforce a buy signal.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-27-ALIZF.png?resize=525%2C404&#038;ssl=1\" alt=\"Allianz SE (ALIZF) Monthly Chart\" width=\"525\" height=\"404\" \/><\/p>\n<h4>Recommendation: BUY<\/h4>\n<p>We recommend ALIZF as a long-term addition to the PVT portfolio.<\/p>\n<h4>Acknowledgements<\/h4>\n<p>Fundamental data is from <a href=\"https:\/\/www.morningstar.com\/stocks\/otcm\/alizf\/quote\">Morningstar<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>30 June 2026 Allianz SE (ALIZF.OTC) provides property-casualty insurance, life\/health insurance, and asset management products and services worldwide. The company&#8217;s Property-Casualty segment offers motor liability, accident, fire and property, general liability, credit, and travel insurance, as well as assistance services, to private and corporate customers. Its Life\/Health segment provides a range of life and health &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/07\/24\/allianz-se-alizf\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Allianz SE (ALIZF)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3803],"tags":[7395],"class_list":["post-65405","post","type-post","status-publish","format-standard","hentry","category-pvt-international","tag-allianz-se-alizf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Allianz SE (ALIZF) - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allianz SE (ALIZF) - the patient investor\" \/>\n<meta property=\"og:description\" content=\"30 June 2026 Allianz SE (ALIZF.OTC) provides property-casualty insurance, life\/health insurance, and asset management products and services worldwide. The company&#8217;s Property-Casualty segment offers motor liability, accident, fire and property, general liability, credit, and travel insurance, as well as assistance services, to private and corporate customers. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-h0V","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":65407,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/07\/25\/zurich-insurance-group-ag-adr-zurvy\/","url_meta":{"origin":65405,"position":0},"title":"Zurich Insurance Group AG (ADR: ZURVY)","author":"Colin Twiggs","date":"July 25, 2026","format":false,"excerpt":"Zurich Insurance Group AG\u00a0is one of the most successful European multiline insurers with over USD 60 billion of annual gross written premiums. Zurich writes business across both Life and non-Life insurance and also owns Farmers Management Services. Europe (EMEA) and North America are the strongest regions, contributing 56% and 41%\u2026","rel":"","context":"In &quot;PVT International Portfolio&quot;","block_context":{"text":"PVT International Portfolio","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investment-allocation\/pvt-international\/"},"img":{"alt_text":"Zurich Insurance Group AG (ZURVY) Return on Assets & Return on Equity","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-23-ZURVY-roe.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-23-ZURVY-roe.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-23-ZURVY-roe.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-23-ZURVY-roe.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-23-ZURVY-roe.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-23-ZURVY-roe.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":65366,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/07\/21\/qbe-insurance-group-ltd-qbe\/","url_meta":{"origin":65405,"position":1},"title":"QBE Insurance Group Ltd (QBE)","author":"Colin Twiggs","date":"July 21, 2026","format":false,"excerpt":"QBE Insurance Group Ltd (QBE) is an international property and casualty insurance company with USD 24 billion of annual gross written premiums. It writes about 25% of its annual premiums in its home region of Australia and New Zealand and 25% in North America. Commercial and specialty insurance lines make\u2026","rel":"","context":"In &quot;PVT Australian Portfolio&quot;","block_context":{"text":"PVT Australian Portfolio","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investment-allocation\/pvt-australia\/"},"img":{"alt_text":"QBE Insurance Group Ltd (QBE) Return on Assets & Return on Equity","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-20-QBE-roe.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-20-QBE-roe.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-20-QBE-roe.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-20-QBE-roe.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-20-QBE-roe.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-20-QBE-roe.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":13065,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/03\/31\/private-health-insurance-fails-to-deliver\/","url_meta":{"origin":65405,"position":2},"title":"Private health insurance fails to deliver","author":"ColinTwiggs","date":"March 31, 2016","format":false,"excerpt":"From Leith van Onselen at Macrobusiness: The high financial overhead of private insurance in Australia means that only 84 cents in every dollar collected by private insurers is returned as benefits, with the rest going to administrative costs and corporate profits. By contrast, Medicare returns 94 cents in the dollar,\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8471,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/09\/23\/saving-medicare-the-case-for-market-based-health-reform\/","url_meta":{"origin":65405,"position":3},"title":"Saving Medicare: The Case for Market-Based Health Reform","author":"ColinTwiggs","date":"September 23, 2013","format":false,"excerpt":"In a paper to Catholic Health Conference Australia, Jeremy Sammut highlights the need for revision of Australia's national health care system. ....health spending already consumes a third of the NSW budget..... and if health spending continues to grow at current rates, health will consume the entire NSW budget in 20\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7862,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/06\/03\/the-u-s-health-care-system-doesnt-need-price-controls-it-needs-price-signals-reason-com\/","url_meta":{"origin":65405,"position":4},"title":"The U.S. Health Care System Doesn\u2019t Need Price Controls. It Needs Price Signals | Reason.com","author":"ColinTwiggs","date":"June 3, 2013","format":false,"excerpt":"Peter Suderman discusses two articles which attack the high cost of health care in the USA: Both pieces offer essentially the same thesis: The U.S. spends too much on health care because the prices Americans pay for health care services are too high. And both implicitly nod toward more aggressive\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64220,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/23\/changes-to-pvt-asset-allocation\/","url_meta":{"origin":65405,"position":5},"title":"Changes to PVT Asset Allocation","author":"Colin Twiggs","date":"April 23, 2026","format":false,"excerpt":"We are adjusting the asset allocation for PVT Capital's managed portfolios to reflect the changing dynamics in global markets driven by the US war with Iran. The threat to global oil supply will likely have long-term implications for energy markets, accelerating the shift from internal combustion to electric vehicles and\u2026","rel":"","context":"In &quot;Investment Strategy&quot;","block_context":{"text":"Investment Strategy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/investing\/investment-strategy-2\/"},"img":{"alt_text":"PVT Capital: Asset Allocation","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-22-pvt-allocation.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-22-pvt-allocation.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-22-pvt-allocation.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/65405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=65405"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/65405\/revisions"}],"predecessor-version":[{"id":65406,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/65405\/revisions\/65406"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=65405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=65405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=65405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}