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1. Company Snapshot

1.a. Company Description

NÜRNBERGER Beteiligungs-AG operates as an insurance company in Germany.The company offers car, motorcycle, oldtimerversicherung, long-term care, protection, life, and pension insurance products; personal, pet owners, home and property owners, watersports, principal's, civil, and waters damage liability, as well as hunting insurance products; and content, homeowners, shell, house and wohnungsschutzbrief, and household glass insurance products.It also provides inshape, seeing and hearing, dental, travel, alternative medicine, around protection, hospitalization, sickness allowance, and private health insurance products; and musical instrument, horse transport, sport boat, luggage, security, valuables, and event insurance products.


In addition, the company offers disability, dread disease, and accident insurance products; insurance products for kids and teens, and owners and employees; and invalidity and subsidy insurance products.Further, it provides glass, commercial building, and building services insurance products; building services breakdown, electronics, and photovoltaic insurance products; property damage and IT liability, and D & O insurance products; and intellectual property legal insurance products.Additionally, the company offers transportation, cargo, fleet, and carrier's liability, as well as car insurance products for car wholesalers and electricians; and multi-risk, exhibition, and business insurance products.


It serves business customers in the pharmacy, construction, funeral home, heliwesen, wholesale, manufacturing, hotels, restaurants, agriculture, forestry, food trade, crafts, beauty, horse-holding facilities, IT service, and related trades industries, as well as operator of renewable energy plants, medium-sized enterprises, shippers, carriers, organizers, and chamber professions; and private customers.The company was founded in 1884 and is based in Nuremberg, Germany.

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1.b. Last Insights on NBG6

NÜRNBERGER Beteiligungs-AG's recent performance is driven by steady business conditions. The company's valuation appears attractive, with no major concerns or negative headlines. A closer look at its prospects reveals a stable situation. As a holding company, NÜRNBERGER Beteiligungs-AG's performance is closely tied to its subsidiaries. No recent earnings release or significant events have impacted the stock. A share buyback program could be a potential positive catalyst, but none has been announced. According to recent data, investors are taking a closer look at the company's valuation.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.03%)

6. Segments

Life

Expected Growth: 4.83%

NÜRNBERGER Beteiligungs-AG's 4.83% growth in Life segment is driven by increasing demand for retirement savings products, expansion into digital distribution channels, and strategic partnerships. Additionally, favorable regulatory changes and a growing middle class in Germany contribute to the growth. Furthermore, the company's diversified product portfolio and strong brand reputation also support the segment's growth.

Property-Casualty

Expected Growth: 4.73%

NÜRNBERGER Beteiligungs-AG's Property-Casualty segment growth of 4.73% is driven by increasing demand for insurance products, favorable regulatory environment, and strategic partnerships. Additionally, the company's focus on digitalization, expansion into new markets, and effective risk management practices have contributed to its growth.

Banking Services

Expected Growth: 5.83%

NÜRNBERGER Beteiligungs-AG's 5.83% growth in Banking Services is driven by increasing demand for digital payment solutions, strategic partnerships with fintech companies, and expansion into underserved markets. Additionally, the company's focus on customer experience, cost optimization, and regulatory compliance has contributed to its growth momentum.

Health

Expected Growth: 8.37%

NÜRNBERGER Beteiligungs-AG's 8.37% growth in Health segment is driven by increasing demand for healthcare services, aging population, and government initiatives to improve healthcare infrastructure. Additionally, the company's strategic acquisitions and partnerships have expanded its service offerings, contributing to the growth.

7. Detailed Products

Life Insurance

NÜRNBERGER Beteiligungs-AG offers a range of life insurance products that provide financial protection to individuals and their loved ones in the event of death or disability.

Pension Insurance

NÜRNBERGER Beteiligungs-AG provides pension insurance products that help individuals save for their retirement and ensure a steady income stream in their golden years.

Health Insurance

NÜRNBERGER Beteiligungs-AG offers health insurance products that provide financial protection against medical expenses and ensure access to quality healthcare.

Accident Insurance

NÜRNBERGER Beteiligungs-AG provides accident insurance products that provide financial protection in the event of accidents or injuries.

Investment Products

NÜRNBERGER Beteiligungs-AG offers a range of investment products that help individuals grow their wealth over time.

Retirement Provision

NÜRNBERGER Beteiligungs-AG provides retirement provision products that help individuals save for their retirement and ensure a comfortable post-work life.

8. NÜRNBERGER Beteiligungs-AG's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for NÜRNBERGER Beteiligungs-AG is moderate, as there are alternative investment options available to customers, but the company's diversified portfolio and strong brand reputation help to mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers is relatively low, as NÜRNBERGER Beteiligungs-AG operates in a niche market and has a strong reputation, giving it a competitive advantage.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate, as NÜRNBERGER Beteiligungs-AG relies on a diverse range of suppliers, but has some negotiating power due to its size and reputation.

Threat Of New Entrants

The threat of new entrants is relatively low, as NÜRNBERGER Beteiligungs-AG operates in a highly regulated industry and has a strong brand reputation, making it difficult for new entrants to gain traction.

Intensity Of Rivalry

The intensity of rivalry is high, as NÜRNBERGER Beteiligungs-AG operates in a competitive industry with many established players, and must continually innovate and adapt to stay ahead.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 3.84%
Debt Cost 3.95%
Equity Weight 96.16%
Equity Cost 4.98%
WACC 4.94%
Leverage 3.99%

11. Quality Control: NÜRNBERGER Beteiligungs-AG passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Value: 6.8

Growth: 6.6

Quality: 7.2

Yield: 8.1

Momentum: 10.0

Volatility: 8.7

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IGI

A-Score: 7.5/10

Value: 7.6

Growth: 8.1

Quality: 7.9

Yield: 7.5

Momentum: 8.5

Volatility: 5.7

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VIG

A-Score: 7.2/10

Value: 6.4

Growth: 4.2

Quality: 6.2

Yield: 7.5

Momentum: 10.0

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A-Score: 7.0/10

Value: 6.1

Growth: 4.3

Quality: 7.2

Yield: 6.2

Momentum: 8.5

Volatility: 9.7

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A-Score: 6.2/10

Value: 6.9

Growth: 2.8

Quality: 7.6

Yield: 8.1

Momentum: 8.5

Volatility: 3.3

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Nürnberger

A-Score: 4.6/10

Value: 6.8

Growth: 1.7

Quality: 5.4

Yield: 3.8

Momentum: 8.5

Volatility: 1.3

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

119.5$

Current Price

119.5$

Potential

-0.00%

Expected Cash-Flows