Outlook

Note:

All targets are subject to large losses not exceeding the large loss budget (EUR 2.2bn for 2023 for Talanx Group), no turbulences on capital markets, and no material currency fluctuations. In addition, the forecast for Group net income may be subject to particular fluctuations due to the application of the new IFRS 9 accounting standard for the valuation of the investment portfolio. The Russian war in Ukraine has emerged as an additional uncertainty factor. The targeted dividend payout is subject to the regulator’s approval.

1) By 2025 with normalised Group net income 2022 baseline of EUR 1,250 million
2) Dividend per share for financial year 2022 paid in 2023; subject to Supervisory Board and AGM approval
3) Planned dividend per share for financial year 2025 paid in 2026