Latest news with #Talanx
Yahoo
19-05-2025
- Business
- Yahoo
Talanx posts 5% rise in Q1 2025 net income
Talanx has reported net income attributable shareholders of €604m for the first quarter of 2025 (Q1 2025), a 5% increase from €576m in the same quarter the previous year. The German based insurer's diluted earnings per share also rose by 5%, reaching €2.34 from €2.23 in Q1 2024. The primary insurance sector contributed 60% of the group's net income, while reinsurance accounted for a 40% share. Talanx's operating profit (EBIT) grew by 4% to €1.3bn, up from €1.2bn in Q1 of the previous year. The company's insurance revenue increased by 5% to €12.4bn, compared with €11.7bn in the same period last year. Notably, the corporate & specialty division saw a 10% rise in insurance revenue to €2.6bn, and the retail international division experienced a 4% increase to €2.3bn, with growth observed in Poland, Chile and Colombia. The group's net income now includes the previously unconsolidated minority interest in the net income of Polish subsidiaries Warta and TU Europa, and following the end of a partnership with Meiji Yasuda Life Insurance. In the retail Germany division, insurance revenue for the quarter was reported at €812m, attributed to the expiration of a partnership with Targobank. The reinsurance division increased its insurance revenue by 5% to €7bn. The property and casualty (P&C) reinsurance segment experienced a 7% rise to €5.1bn, while the life/health reinsurance segment remained stable at €1.9bn. The P&C segment's growth was credited to new business and ongoing pricing levels. The forest fires in California resulted in a loss of €640m, one of the largest from a natural disaster in the Group's history, the company said in a statement. The combined ratio for the quarter was 92.8%, down from 90.8% the previous year. Talanx has confirmed its 2025 earnings target of more than €2.1bn and is aiming for a Group net income of more than €2.5bn, with a proposed dividend increase to €4.00 per share for 2027. Talanx CEO Torsten Leue said: 'We got off to a strong start in 2025, demonstrating that our diversified business model is paying off. Although the first quarter, which saw the forest fires in California, produced one of the largest losses from a natural disaster in the Group's history, we also generated our strongest quarterly net income to date. This shows we are robustly positioned with our mix of Primary Insurance and Reinsurance, which is expected to normalise again in the course of the year. 'I am highly confident that we shall reach our target net income for 2025 of more than €2.1bn.' In February, the Group's retail international division agreed to divest its Ecuadorian entity, HDI Seguros, to Grupo Financiero Atlántida. "Talanx posts 5% rise in Q1 2025 net income " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-03-2025
- Business
- Yahoo
HDI Global insurance revenue up 10% in 2024
HDI Global, the Corporate & Specialty Division of Talanx Group, has reported insurance revenue of €10bn for 2024, an increase of 10% compared with the previous year. HDI Global's contribution to the Talanx Group's net income also increased, reaching €501m for the year, compared with €351m in 2023. Meanwhile, Talanx itself reported group net income of €1.9bn in 2024, a 25% surge from the previous year. The insurer's operating profit for the year totalled €702m, compared with €446m a year earlier. It also saw an uplift in return on equity to 17.6%, a rise of 3.3 percentage points. The company's financial success in 2024 has been attributed to the expansion of new business and inflation-related price adjustments on existing contracts. Additionally, the insurer reported a combined ratio of 90% for the year in 2024 as against 91.5% in 2023. The company's insurance service result reached €1bn in 2024 from €770m in 2023, supported by a better loss ratio for frequency losses. Large loss payments rose to €402m from €334m in 2023, but the figures stayed below the projected €468m, primarily due to a reduction in man-made losses. Nevertheless, the budget for natural catastrophe (NatCat) losses was exceeded, the company said. The net insurance financial and investment result before currency effects improved to €83m, driven by 'higher investment volumes' and an uptick in current interest income. HDI Global SE CEO Edgar Puls said: 'Our positive results enable us to act as our clients' and brokers' preferred and reliable Partner in Transformation. For this, we aim to be financially strong for decades to come.' 'These strong figures for 2024 are our basis to continue acting as a leading one-stop shop for all our clients. Strategically, HDI Global's risk diversification is strong, enabling us to be a stable, predictable and reliable partner. I am proud to say that we achieved these full-year results through profitability in all regions of the world.' Commenting on the middle-market expansion, HDI Global Asia-Pacific head and Australia managing director Stefan Feldmann stated: 'For 2025, we see substantial growth opportunities in the Mid-Market space, which we perceive to be under-represented for HDI, but our broker partners show a great interest in working with us as we offer a refreshingly different approach to this segment.' "HDI Global insurance revenue up 10% in 2024 " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-03-2025
- Business
- Yahoo
HDI Global insurance revenue up 10% in 2024
HDI Global, the Corporate & Specialty Division of Talanx Group, has reported insurance revenue of €10bn for 2024, an increase of 10% compared with the previous year. HDI Global's contribution to the Talanx Group's net income also increased, reaching €501m for the year, compared with €351m in 2023. Meanwhile, Talanx itself reported group net income of €1.9bn in 2024, a 25% surge from the previous year. The insurer's operating profit for the year totalled €702m, compared with €446m a year earlier. It also saw an uplift in return on equity to 17.6%, a rise of 3.3 percentage points. The company's financial success in 2024 has been attributed to the expansion of new business and inflation-related price adjustments on existing contracts. Additionally, the insurer reported a combined ratio of 90% for the year in 2024 as against 91.5% in 2023. The company's insurance service result reached €1bn in 2024 from €770m in 2023, supported by a better loss ratio for frequency losses. Large loss payments rose to €402m from €334m in 2023, but the figures stayed below the projected €468m, primarily due to a reduction in man-made losses. Nevertheless, the budget for natural catastrophe (NatCat) losses was exceeded, the company said. The net insurance financial and investment result before currency effects improved to €83m, driven by 'higher investment volumes' and an uptick in current interest income. HDI Global SE CEO Edgar Puls said: 'Our positive results enable us to act as our clients' and brokers' preferred and reliable Partner in Transformation. For this, we aim to be financially strong for decades to come.' 'These strong figures for 2024 are our basis to continue acting as a leading one-stop shop for all our clients. Strategically, HDI Global's risk diversification is strong, enabling us to be a stable, predictable and reliable partner. I am proud to say that we achieved these full-year results through profitability in all regions of the world.' Commenting on the middle-market expansion, HDI Global Asia-Pacific head and Australia managing director Stefan Feldmann stated: 'For 2025, we see substantial growth opportunities in the Mid-Market space, which we perceive to be under-represented for HDI, but our broker partners show a great interest in working with us as we offer a refreshingly different approach to this segment.' "HDI Global insurance revenue up 10% in 2024 " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
