Talanx raises profit forecast for financial year 2023 to exceed significantly EUR 1.5 billion

Net income of more than EUR 1.25 billion for the first nine months

The Talanx Group expects to report a net income of more than EUR 1.25 billion for the first nine months of the current financial year 2023 due to a strong operating performance of particularly the primary insurance segments. On this basis, the Management Board of Talanx AG increases its profit forecast for the full financial year 2023. The Management Board now expects a consolidated net income for the full financial year 2023 that will significantly exceed EUR 1.5 billion. The Talanx Group expects the acquisition of Liberty Mutual’s business in Brazil to be closed in the course of the fourth quarter. The associated effects of time proportionate consolidation are already included in the increased forecast.

This earnings target assumes that large losses will not exceed the large loss budget, that the capital markets do not experience any upheavals and that no material currency fluctuations arise.

Talanx AG will report final results for the first 9 months of the current financial year 2023 on 13 November 2023 as scheduled.

Disclaimer

This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. 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 control, affect Talanx AG’s 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 may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.