Corporate News
May 6, 2013

Shareholders pass resolution on first dividend payment

  • Dividend of 1.05 euros per share approved
  • Shareholders adopt proposals for regular election of shareholders’ representatives to the Supervisory Board
  • Annual General Meeting approves compensation system for the Board of Management

The first Annual General Meeting of Talanx AG held today following the initial public offering in October 2012 passed the proposed resolutions submitted by the Board of Management and the Supervisory Board with a large majority. Nearly 300 shareholders represented some 92.8 percent of the equity capital of the company at the Hannover Congress Centre. Following the significant growth in earnings during the business year 2012, they resolved to pay out a dividend of 1.05 euros per share. This is equivalent to a dividend yield of 4.9 percent on the year-end price and 5.7 percent for the initial subscribers to the issue. Alongside the statements of accounts submitted by the Board of Management and the Supervisory Board, the agenda also included approval of the compensation system for the Members of the Board of Management which was introduced on 1 January. The shareholders present also elected the shareholders’ representatives on the Supervisory Board.

"2012 was a very special year for Talanx,” said Chairman of the Board of Management Herbert K. Haas in his presentation. “109 years after our company was established, we have achieved our debut on the stock exchange and created additional financial flexibility for ourselves so that we are in a position to strengthen the growth of our Group. Notwithstanding the high workload for our workforce caused by the initial public offering, we succeeded in improving virtually all the key indicators and made consistent progress with our expansion in international markets.”

During the past year, the Talanx Group increased gross written premium by 13 percent to 26.7 billion euros. The operating result (EBIT) increased by nearly half to 1.8 (previous year: 1.2) billion euros. After tax, the Group net income went up by more than one fifth to 630 (515) million euros.

In his presentation, Haas reaffirmed his outlook for the business year 2013. One of the targets envisaged is Group net income of more than 650 million euros and a return on equity of more than 9 percent. The target for gross premium should be at least 4 percent based on the assumption that exchange rates remain constant. These forecasts are subject to the condition that major claims remain in line with expectations and that no turbulence occurs in the currency and capital markets. The goal of paying out 35 to 45 percent of the Group operating result in accordance with IFRS as a dividend remains unchanged.

The following persons were elected as representatives of the shareholders to the Supervisory Board:

  • Wolf-Dieter Baumgartl (former Chairman of the Board of Management of Talanx AG and of HDI Haftpflichtverband der Deutschen Industrie V.a.G.)
  • Professor Dr Eckhard Rohkamm (former Chairman of the Board of Management of ThyssenKrupp Technologies AG and former Member of the Board of Management of ThyssenKrupp AG)
  • Antonia Aschendorf (Lawyer and Member of the Board of Management of APRAXA eG)
  • Dr Thomas Lindner (Chairman of the Executive Management and personally liable shareholder of Groz-Beckert KG)
  • Dr Erhard Schipporeit (former Member of the Board of Management of E.ON AG)

The following individuals were elected to the Supervisory Board for the first time:

  • Dr Hermann Jung (Member of the Executive Management of Voith GmbH)
  • Dirk Lohmann (Chairman and CEO of Secquaero Advisors Ltd.)
  • Norbert Steiner (Chairman of the Board of Management of K+S AG).

Wolf-Dieter Baumgartl was re-elected as Chairman of the governance body at a constituent meeting of the Supervisory Board held after the Annual General Meeting.

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.