Talanx | Talanx. Insurance. Investments.

Corporate news

3 February 2022

Double-digit increase in premium income (10.7 percent) to EUR 45.5 billion
Operating profit jumps approximately 46 percent to EUR 2.45 billion despite historically high net claims expenses
Dividend proposal of EUR 1.60 per share
Earnings outlook of EUR 1.05–1.15 billion confirmed for 2022

Group net income at the Talanx Group has exceeded the EUR 1 billion mark for the first time based on unaudited consolidated figures, despite historically high net claims expenses. This comes one year earlier than forecast in 2018, when the Group published its goals for the period up to 2022. Group net income jumped 50 percent to EUR 1.01 billion. Operating profit climbed 46 percent to EUR 2.45 billion. Gross written premium income recorded a double-digit increase of 10.7 percent to EUR 45.5 billion.

The growth in earnings is due among other things to the clear impact of the strategic optimisation programmes in the Industrial Lines and Retail Germany divisions (primary insurance). The Retail International Division also remained highly profitable. As a result, the share of Group net income accounted for by primary insurance has risen from 31 percent in 2018 to approximately 45 percent, while Hannover Re also saw an increase in earnings.

In November 2021, the Talanx Group had forecast that Group net income for 2021 would be at the upper end of the range of EUR 900–950 million. In 2018, Talanx had announced that it would lift earnings per share (EPS) by an average of at least 5 percent per annum in the period up to 2022.

The Board of Management intends to raise the dividend for financial year 2021 to EUR 1.60 (1.50) per share so as to enable shareholders to participate in the Talanx Group’s success. Subject to approval by the Supervisory Board and the Annual General Meeting, this means that the Talanx Group will maintain its policy of distributing a dividend that is at least on a level with the previous year.

As already announced in November, the Board of Management is expecting Group net income for 2022 to rise again and to be within the range of EUR 1.05–1.15 billion.

Talanx will publish its final key financial figures and its full consolidated financial statements on 14 March 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.