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Mid East Info
2 days ago
- Business
- Mid East Info
HDI Global Half-Year Results Driven by New Business Growth, Dubai Office Completes Successful Inaugural Year, Eyes Further Growth
Half-year combined ratio stands at 91.6 (6m 2024: 91.1) percent Insurance revenue totalled at EUR 5.1 (4.8) billion Operating profit (EBIT) increased to EUR 377 (305) million Return on Equity (RoE) rose by 1.7 percentage points to 17.4 (15.7) percent Reporting positive results for the first half of 2025, Corporate & Specialty insurer HDI Global SE has increased both revenue and net income. The main driver behind these strong results, to which all lines contributed, was growth in new business. HDI Global's Dubai office surpassed expectations in several segments and hired key talents to support its unabated growth ambitions in the MENA region. The office thus contributed to the positive overall result of the Germany based multi-national insurer belonging to the Talanx Group. 'In the first half of 2025, HDI Global's DIFC operation successfully completed its inaugural year, surpassing expectations in the Property and Engineering segments due to solid support from all stakeholders and a strong performing team', says Willem van Wyk, Managing Director HDI Global Dubai. 'As a financially robust and reliable Partner in Transformation for our clients and broker partners, HDI Global leverages a strategic expansion in the UAE, guided by the addition of key talents within Risk Engineering and Liability. Our diversified strategy, supported by favourable market conditions, positions us to continue building a resilient global enterprise while emphasising individualised risk management. The Middle East, crucial to our international growth, reflects our commitment to serving an evolving clientele with bespoke solutions.' On a worldwide scale, HDI Global generated clear growth in revenue and net income in the first half of 2025. Adjusted for currency effects, insurance revenue rose 8 percent to EUR 5.1 (6m 2024: 4.8) billion (7 percent in nominal terms). The insurance service result remained stable at EUR 430 (429) million. Large loss payments came in at EUR 142 (128) and were well below the pro rata budget of EUR 253 million. The combined ratio at 91.6 (91.1) percent remained within expectation of less than 92 percent for the full year. The net insurance financial and investment result before currency effects rose to EUR 99 (68) million due to higher investment volumes and an increase in current interest income. EBIT was clearly lifted by 24 percent to EUR 377 (305) million. RoE rose to 17.4 (15.7) percent, while HDI Global's contribution to Talanx Group net income rose 23 percent to EUR 274 (223) million. Given HDI Global's robust worldwide results, van Wyk remains optimistic for the latter half of 2025: 'As we look forward, the dynamic landscape of the Middle East offers exciting prospects for HDI Global and for our clients. Our continued engagement with sustainable projects aids the region's energy transition, showcasing our ability to adapt and innovate alongside our clients. Dubai, with its strategic location and young, diverse population, is poised to attract top-tier talent, fostering new developments and ambitious economic plans. These elements of change and opportunity embody our dedication to long-term cooperation through deep dialogue and strategic collaboration, ensuring continued success.' About HDI Global SE HDI As a Corporate & Specialty lines insurer, HDI Global SE (HDI) meets the needs of SMEs, industrial companies, middle market and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners. Acting as the Partner in Transformation, HDI Global SE leads roughly 5,300 International Programmes and offers its multinational customers compliant coverage worldwide. HDI Global SE is the Corporate & Specialty Division of the Talanx Group and has been a leading insurer for several decades. More than 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 10.0 billion in the year 2024 (according to IFRS 17). The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of AA-/stable (very strong) and AM Best has assigned the A+ Rating. Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX. Disclaimer: This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and HDI Global SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's and HDI Global SE's control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG and HDI Global SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and HDI Global SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
Zawya
2 days ago
- Business
- Zawya
HDI global half-year results driven by new business growth
Half-year combined ratio stands at 91.6 (6m 2024: 91.1) percent Insurance revenue totalled at EUR 5.1 (4.8) billion Operating profit (EBIT) increased to EUR 377 (305) million Return on Equity (RoE) rose by 1.7 percentage points to 17.4 (15.7) percent Dubai: Reporting positive results for the first half of 2025, Corporate & Specialty insurer HDI Global SE has increased both revenue and net income. The main driver behind these strong results, to which all lines contributed, was growth in new business. HDI Global's Dubai office surpassed expectations in several segments and hired key talents to support its unabated growth ambitions in the MENA region. The office thus contributed to the positive overall result of the Germany based multi-national insurer belonging to the Talanx Group. 'In the first half of 2025, HDI Global's DIFC operation successfully completed its inaugural year, surpassing expectations in the Property and Engineering segments due to solid support from all stakeholders and a strong performing team', says Willem van Wyk, Managing Director HDI Global Dubai. 'As a financially robust and reliable Partner in Transformation for our clients and broker partners, HDI Global leverages a strategic expansion in the UAE, guided by the addition of key talents within Risk Engineering and Liability. Our diversified strategy, supported by favourable market conditions, positions us to continue building a resilient global enterprise while emphasising individualised risk management. The Middle East, crucial to our international growth, reflects our commitment to serving an evolving clientele with bespoke solutions.' On a worldwide scale, HDI Global generated clear growth in revenue and net income in the first half of 2025. Adjusted for currency effects, insurance revenue rose 8 percent to EUR 5.1 (6m 2024: 4.8) billion (7 percent in nominal terms). The insurance service result remained stable at EUR 430 (429) million. Large loss payments came in at EUR 142 (128) and were well below the pro rata budget of EUR 253 million. The combined ratio at 91.6 (91.1) percent remained within expectation of less than 92 percent for the full year. The net insurance financial and investment result before currency effects rose to EUR 99 (68) million due to higher investment volumes and an increase in current interest income. EBIT was clearly lifted by 24 percent to EUR 377 (305) million. RoE rose to 17.4 (15.7) percent, while HDI Global's contribution to Talanx Group net income rose 23 percent to EUR 274 (223) million. Given HDI Global's robust worldwide results, van Wyk remains optimistic for the latter half of 2025: 'As we look forward, the dynamic landscape of the Middle East offers exciting prospects for HDI Global and for our clients. Our continued engagement with sustainable projects aids the region's energy transition, showcasing our ability to adapt and innovate alongside our clients. Dubai, with its strategic location and young, diverse population, is poised to attract top-tier talent, fostering new developments and ambitious economic plans. These elements of change and opportunity embody our dedication to long-term cooperation through deep dialogue and strategic collaboration, ensuring continued success.' -Ends- Note: HDI Global is publishing financial key figures in accordance with the international financial reporting standards IFRS 17/9. To find out more about the services of HDI Global SE Dubai Office, click here: To find out more about the latest Talanx results, click here: About HDI Global SE (HDI) As a Corporate & Specialty lines insurer, HDI Global SE (HDI) meets the needs of SMEs, industrial companies, middle market and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners. Acting as the Partner in Transformation, HDI Global SE leads roughly 5,300 International Programmes and offers its multinational customers compliant coverage worldwide. HDI Global SE is the Corporate & Specialty Division of the Talanx Group and has been a leading insurer for several decades. More than 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 10.0 billion in the year 2024 (according to IFRS 17). The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of AA-/stable (very strong) and AM Best has assigned the A+ Rating. Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX. Disclaimer This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and HDI Global SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's and HDI Global SE's control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG and HDI Global SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and HDI Global SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
Business Wire
29-04-2025
- Business
- Business Wire
HDI Global US Appoints Donna Yood as Executive Underwriter for Environmental Liability
CHICAGO--(BUSINESS WIRE)-- HDI Global Insurance Company (HGIC), the U.S. subsidiary of international Corporate & Specialty Insurer, HDI Global SE (HDI), today announced the appointment of executive underwriter Donna Yood to its new Environmental Liability product line. We understand the challenges that our customers face on a daily basis, and we are delighted to be problem solvers in the Environmental Liability space. In her role, Yood will aid the rollout and development of HDI's U.S. Environmental Liability line and ensure cutting-edge insurance solutions for a complex regulatory environment. With a career spanning 25+ years, Yood has held several executive underwriting and underwriting management positions and worked for multiple insurance firms. The launch of the U.S. coverage line and Yood's appointment align with HDI's global strategy in offering comprehensive, tailor-made ESG Liability coverage to clients and brokers worldwide. 'I'm thrilled to welcome Donna to our dynamic team,' said Lindsay Judd, U.S. Environmental Liability Lead for HGIC. 'Her appointment accelerates our position and growth in the region and further facilitates broad market engagement. As we launch our first Excess product and continue to build out our U.S. team and capabilities, Donna's expertise will help HDI to be our clients' preferred Partner in Transformation.' 'We understand the challenges that our customers face on a daily basis, and we are delighted to be problem solvers in the Environmental Liability space,' Yood said. 'Our products will cater to the unique needs of our clients on a global scale.' Yood will operate out of the suburbs of Atlanta with countrywide responsibilities and will report into Judd. About HDI Global SE (HDI) Corporate & Specialty lines insurer HDI Global SE (HDI) meets the needs of SMEs, larger companies, middle market and corporate clients with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners. In the United States, HDI operates through its three (3) wholly owned subsidiaries, HDI Global Insurance Company, a commercial property and casualty insurer headquartered in Chicago, IL and licensed in all 50 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands, HDI Global Select Insurance Company, a commercial property and casualty insurer licensed in Washington D.C., and in all U.S. states with the exception of Rhode Island, and HDI Specialty Insurance Company, an Illinois domestic surplus lines insurer who provides both primary and excess coverage to specialized industries and is also authorized to write business nationwide. Acting as a Partner in Transformation, HDI leads roughly 5,300 International Programmes and offers its multinational customers compliant coverage worldwide. HDI is the Corporate & Specialty Division of the Talanx Group and has been a leading insurer for several decades. More than 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 10.0 billion in the year 2024 (according to IFRS 17). The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of AA-/stable (very strong) and AM Best has assigned the rating of A+ (superior). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX. Disclaimer This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and HDI Global SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's and HDI Global SE's control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG and HDI Global SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and HDI Global SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
Yahoo
12-03-2025
- Business
- Yahoo
HDI Global U.S. Enhances its Casualty Underwriting Leadership Structure with New Appointments
CHICAGO, March 12, 2025--(BUSINESS WIRE)--HDI Global Insurance Company (HGIC) today announced a new leadership structure for its US casualty operations to strengthen its position across retail and wholesale markets. Ed Wu joins as Vice President and US Casualty Lead, with Thomas Long serving as Vice President and Admitted Casualty Lead. In announcing these changes, Marco Hensel, Chief Underwriting Officer at HGIC, notes: "This enhanced structure positions us to better serve our clients and broker partners. Ed's extensive experience in both retail and wholesale markets, combined with Tom's proven expertise in admitted casualty, creates an exceptional leadership team that will drive our next phase of growth." With an insurance career spanning 35+ years, Long has held a wide variety of senior underwriting and leadership positions and has extensive experience in both the traditional and alternative risk market sectors. He will be based out of the company's US headquarters in Chicago, IL and will report into Wu. Supporting this strategic realignment, Long emphasizes the enhanced value for clients: "By bringing together our retail and wholesale capabilities under unified leadership, we can deliver more innovative solutions that address the evolving challenges our clients face in today's dynamic risk environment. This ultimately strengthens our position as a true Partner in Transformation." The appointment of Wu brings nearly three decades of commercial casualty experience to HGIC, with deep expertise in both primary and excess markets. His proven track record includes successfully leading nationwide teams and driving portfolio growth while maintaining strong underwriting discipline. His comprehensive background spans multiple industry sectors, including manufacturing, services, retail/wholesale trade, and hospitality, with particular strength in construction, E&S lines, national accounts, and middle market business. "Our realigned organization ensures coordinated delivery of casualty solutions while maintaining specialized focus on each distribution channel," says Wu. "I look forward to working with our talented team to expand our market presence and deliver innovative solutions to our clients and trading partners." Wu holds an MBA from St. John's University and a BS from the University of Southern California, complemented by ARM and CRIS designations and a P&C broker's license. Based in Las Vegas, NV he will report to Hensel and oversee HGIC's casualty underwriting. About HDI Global SE (HDI) Corporate & Specialty Insurer HDI Global SE (HDI) meets the needs of SMEs, larger companies, middle market and corporate clients with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners. In the United States, HDI operates through its three (3) wholly owned subsidiaries, HDI Global Insurance Company, a commercial property and casualty insurer headquartered in Chicago, IL and licensed in all 50 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands, HDI Global Select Insurance Company, a commercial property and casualty insurer licensed in Washington D.C., and in all US states, and HDI Specialty Insurance Company, an Illinois domestic surplus lines insurer which provides both primary and excess coverage to specialized industries and is also authorized to write business nationwide. Acting as the Partner in Transformation, HDI Global SE leads more than 5,100 International Programmes and offers its multinational client's compliant coverage worldwide. HDI Global SE is the Corporate & Specialty Division of the Talanx Group and has been a leading insurer for several decades. Approximately 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 9.1 billion in the year 2023 (according to IFRS 17). The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of AA-/stable (strong), and AM Best has assigned the A+ Rating. Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX. Disclaimer This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and HDI Global SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's and HDI Global SE's control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG and HDI Global SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and HDI Global SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. View source version on Contacts For media enquiries please contact:George ContoravdisTel: +1 312 589 6752E-Mail: Dr Frederic StrohmTel.: +49 511 3747 2117E-Mail: Christoph Boßmeyer-HortschTel.: +49 511 6455 9515E-Mail: Sign in to access your portfolio
