Talanx Group generates record profit of EUR 1,581 million in financial year 2023

Group net income of EUR 1,581 million expected, clearly surpassing the original forecast – 2024 Group net income target of more than EUR 1.7 billion confirmed
Insurance revenue increases to EUR 43.2 billion
Return on equity of 16.6 percent clearly exceeds strategic target

The Talanx Group was extremely successful in financial year 2023. Based on its consolidated unaudited figures, it is expecting Group net income of EUR 1,581 million. This clearly surpasses the original annual target of approximately EUR 1.4 billion. Insurance revenue rose to EUR 43.2 (39.7) billion. The return on equity of 16.6 percent clearly exceeds the strategic target of 10 percent. The positive trend in Group net income was driven by earnings growth in all divisions and large loss payments that remained within budget, plus inflation-related price increases.

The Group will report on the dividend proposal by the Board of Management and Supervisory Board for financial year 2023 at its annual results press conference on 21 March 2024, where the final key financial figures and the audited consolidated financial statements for 2023 will also be presented. In keeping with its long-term dividend policy, the Board of Management is aiming to exceed the prior-year dividend payment of EUR 2 per share.

Talanx is confirming the outlook for Group net income of more than EUR 1.7 billion for the current year, 2024. This means that it will clearly exceed its 2025 Group net income target of around EUR 1.6 billion one year earlier than planned.

The Group’s assets, liabilities, financial position and financial performance for 2023 were reported for the first time under the new IFRS 17 and IFRS 9 accounting standards. A comprehensive discussion of the key changes resulting from the new/modified accounting principles is provided in the Interim Report as at 30 June 2023.

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.