Talanx reports improved 91.2% CR for H1 2024Talanx Group has reported a combined ratio of 91.2 percent for the first half of 2024, an improvement of 2.5 percentage points on the prior year period.
Talanx reports 90.9% CR for Q1 2024Talanx Group has reported a combined ratio of 90.9 percent for the first quarter of 2024, an improvement of 2.6 percentage points on the prior-year period.
Talanx posts net income of €572mn in Q1 2024Talanx Group has released preliminary first quarter figures guiding towards consolidated net income of €572mn ($613.9mn), with growth primarily driven by higher earnings across all divisions.
Proxy advisers question independence of Hannover Re supervisory boardProxy adviser Institutional Shareholder Services has recommended that investors vote against the re-election of Hannover Re’s supervisory board chairman Torsten Leue at the reinsurer’s upcoming annual general meeting.
Talanx exceeds group net income forecast as large losses remain under €2.2bn budgetTalanx Group has posted group net income of €1.58bn for 2023, surpassing its original forecast of €1.40bn as it benefited from inflation-related price adjustments and large loss payments that remained within budget for the period.
Talanx boosts LatAm presence after completing purchase of various Liberty unitsTalanx has completed its previously announced acquisition of various Liberty Mutual operations in Chile, Colombia and Ecuador, in a move that will significantly strengthen its retail international division’s foothold in Latin America and increase its premium volume by some €600mn.
Talanx posts “record” net income of €1.58bn in 2023Hannover-based Talanx Group has this morning released preliminary 2023 figures guiding towards a record group profit of €1.58bn ($1.71bn) for the year, with growth driven by higher earnings across all divisions.
Talanx completes Liberty acquisition to become second-largest P&C carrier in BrazilGerman holding company Talanx Group has become the second-largest P&C insurer in Brazil after completing its previously announced acquisition of a number of Liberty Mutual’s businesses in the Latin American country.
Talanx shares close higher as Berenberg lifts forecasts on “quality growth” in 9MTalanx shares closed almost 4 percent higher on Monday after the Hannover-based carrier reported a jump in third quarter profits and analysts responded positively to bullish commentary on the group’s future performance.
Talanx lifts large loss budget by 11% for 2024Talanx will lift its large loss budget by 11 percent for the full year 2024, in a move designed to better protect the Hannover-based (re)insurance giant’s balance sheet against the impact of natural catastrophes as it continues to grow its P&C book.
Talanx raises FY24 guidance as 9M profits jump 23%Talanx Group’s operating profit for the first nine months of 2023 increased by 23 percent to €2.8bn ($2.99bn) from €1.5bn in the prior-year period, as the group reported strong results in its retail and reinsurance divisions and raised its full-year guidance.
Talanx expects FY net income to top €1.5bnTalanx has said it now expects full-year net income to significantly exceed €1.5bn.
Talanx launches €300mn capital raise to increase free floatTalanx AG has launched a €300mn ($320mn) capital raise to increase its free float, as the group looks to enhance the trading liquidity of its shares and improve its position in equity indices.
Talanx has €600m left in Q3 cat budget to cover hurricane season: BerenbergTalanx likely has around €600mn ($655mn) left in its Q3 cat budget to cover potential hurricane losses, according to Berenberg analyst Michael Huttner.
Talanx posts 30.3% increase in H1 2023 operating profitTalanx’s group operating profit for the first half of 2023 increased by 30.3 percent to €1.96bn ($2.14bn) from €1.5bn in the prior-year period, helped by strong results in its retail and reinsurance divisions.
Berenberg expects Talanx to report 93% combined ratioBerenberg has forecast that Talanx will report a 93 percent combined ratio for Q2 2023, with strong pricing trends in commercial lines insurance expected to drive the ratio below the company’s 96 percent target.
Talanx’s Langenbach: €1.4bn LatAm deal helps regional diversification driveTalanx retains an appetite for further M&A in Mexico following its €1.4bn acquisition of a number of Liberty Mutual’s Latin American businesses, part of a drive to create a more balanced portfolio, board member Wilm Langenbach has said.
Talanx acquires Liberty LatAm operations in ~€1.38bn dealGerman Holding Company Talanx Group has become the third-largest P&C insurer in Latin America after acquiring a number of Liberty Mutual’s businesses in Brazil, Chile, Colombia, and Ecuador.
Talanx net income rises 31% on lower large lossesTalanx’s first quarter group net income increased by 31 percent to €423mn ($460mn) from €322mn a year ago, helped by a drop in large losses and strong results in primary insurance.
Talanx outlines new oil and gas underwriting exclusionsTalanx Group is set to expand oil and gas exclusions within its underwriting business from 1 July 2023 on an individual risk basis, according to the group’s eighth Sustainability Report.