CFO Dr. Jan Wicke - 9M 2024: Talanx raises 2024 earnings target significantly after record nine-month Group income

“Despite numerous natural disasters and increased major loss payments, we have grown profitably and have already exceeded our result for the previous full financial year. We therefore look ahead with optimism to the coming years,” said Talanx CFO Jan Wicke.

Talanx increases its insurance revenue by 12 percent to EUR 36.0 (32.3) billion and its Group net income by 24 percent to EUR 1,592 (1,279) million. The return on equity stands at 19.4 (18.4) percent. Both primary insurance (47 percent) and reinsurance (53 percent) contributed to the strong result in a balanced way.

Based on the positive development, the Talanx Group is raising its profit targets for 2024 and 2025: for 2024, the Group now expects a result of more than EUR 1.9 billion; for 2025, it is targeting a result of more than EUR 2.1 billion. The Group had originally forecast a net income of EUR 1.6 billion for 2025 by the end of 2022.

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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.