Latest news with #TalanxGroup
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
Mid East Info
25-03-2025
- Business
- Mid East Info
HDI Global full-year results hit milestone, Dubai business outperforming the market - Middle East Business News and Information
Corporate & Specialty insurer HDI Global SE has reported positive financial results for 2024 with strong growth in both revenue and earnings. Main drivers were growth in new business and partly inflation-related price adjustments. HDI Global's Dubai office had a successful first year, with business growth exceeding expectations. The office thus contributed to the positive overall result of the Germany based multi-national industrial insurer belonging to the Talanx Group. 'In 2024, HDI Global Dubai made remarkable strides, transforming from a nascent operation to fully meeting our set targets, thanks to the robust support from the broker community and the swift embrace of the HDI brand', says Willem van Wyk, Managing Director HDI Global Dubai. 'Our team's collaboration, enriched by our Hannover colleagues, has powered our success in the dynamic DIFC market. This venture marks a pivotal step in HDI Global's ambition to be clients' preferred Partner in Transformation, providing tailored solutions and services, and strengthening our role as a key player in the international insurance landscape.' On a worldwide scale, HDI Global generated clear growth in both revenue and earnings. Insurance revenue rose 10 percent year-on-year to hit the milestone of EUR 10.0 (FY 2023: 9.1) billion for the first time; the growth percentage after adjustment for currency effects was 11 percent. The main drivers for this success were growth in new business and partly inflation-related price adjustments in existing business. The insurance service result increased to EUR 1,004 (770) million on the back of an improved loss ratio for frequency losses. Large loss payments rose year-on-year to EUR 402 (334) million but were below the budgeted figure of EUR 468 million, due to lower man-made-losses. NatCat budget was overshot, reflecting the unbroken trend for increasing losses in this area. The combined ratio improved to 90.0 (91.5) percent. The net insurance financial and investment result before currency effects rose to EUR 83 (11) million due to higher investment volumes and an increase in current interest income. The positive performance by both underwriting and asset management clearly lifted EBIT to EUR 702 (446) million. RoE rose to 17.6 (14.3) percent, while HDI Global's contribution to Talanx Group net income rose to EUR 501 (351) million. Given HDI Global's robust worldwide results, van Wyk remains optimistic for the current year: 'HDI Global Dubai is poised for growth amidst the flourishing economy of the Middle East. Expanding our team and capabilities remains a central focus, and by leveraging our conservative underwriting strategy, we're ready to meet the region's demands, particularly in transforming energy landscapes. The Middle East's commitment to renewable projects aligns perfectly with our vision of being a reliable, long-term partner. Our position as an emerging force allows us to offer enhanced value to clients and brokers, navigating changes with resilience and foresight.'
Zawya
25-03-2025
- Business
- Zawya
HDI Global full-year results hit milestone, Dubai business outperforming the market
Dubai: Corporate & Specialty insurer HDI Global SE has reported positive financial results for 2024 with strong growth in both revenue and earnings. Main drivers were growth in new business and partly inflation-related price adjustments. HDI Global's Dubai office had a successful first year, with business growth exceeding expectations. The office thus contributed to the positive overall result of the Germany based multi-national industrial insurer belonging to the Talanx Group. 'In 2024, HDI Global Dubai made remarkable strides, transforming from a nascent operation to fully meeting our set targets, thanks to the robust support from the broker community and the swift embrace of the HDI brand', says Willem van Wyk, Managing Director HDI Global Dubai. 'Our team's collaboration, enriched by our Hannover colleagues, has powered our success in the dynamic DIFC market. This venture marks a pivotal step in HDI Global's ambition to be clients' preferred Partner in Transformation, providing tailored solutions and services, and strengthening our role as a key player in the international insurance landscape.' On a worldwide scale, HDI Global generated clear growth in both revenue and earnings. Insurance revenue rose 10 percent year-on-year to hit the milestone of EUR 10.0 (FY 2023: 9.1) billion for the first time; the growth percentage after adjustment for currency effects was 11 percent. The main drivers for this success were growth in new business and partly inflation-related price adjustments in existing business. The insurance service result increased to EUR 1,004 (770) million on the back of an improved loss ratio for frequency losses. Large loss payments rose year-on-year to EUR 402 (334) million but were below the budgeted figure of EUR 468 million, due to lower man-made-losses. NatCat budget was overshot, reflecting the unbroken trend for increasing losses in this area. The combined ratio improved to 90.0 (91.5) percent. The net insurance financial and investment result before currency effects rose to EUR 83 (11) million due to higher investment volumes and an increase in current interest income. The positive performance by both underwriting and asset management clearly lifted EBIT to EUR 702 (446) million. RoE rose to 17.6 (14.3) percent, while HDI Global's contribution to Talanx Group net income rose to EUR 501 (351) million. Given HDI Global's robust worldwide results, van Wyk remains optimistic for the current year: 'HDI Global Dubai is poised for growth amidst the flourishing economy of the Middle East. Expanding our team and capabilities remains a central focus, and by leveraging our conservative underwriting strategy, we're ready to meet the region's demands, particularly in transforming energy landscapes. The Middle East's commitment to renewable projects aligns perfectly with our vision of being a reliable, long-term partner. Our position as an emerging force allows us to offer enhanced value to clients and brokers, navigating changes with resilience and foresight.' -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. For media enquiries please contact: Dr Frederic Strohm E-Mail: Christoph Boßmeyer-Hortsch E-Mail: 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. HDI Global SE HDI-Platz 1 30659 Hannover HDI Global | Media Relations Dr. Frederic Strohm hortsch@ presse@
