Alongside improved performance in reinsurance, the domestic and foreign retail business contributed to outperforming expectations for earnings. This more than compensated for the negative effect on earnings at the end of the year brought about by a write-down of tax loss carryforwards amounting to around EUR 40 million in the Group Corporate Operations segment. Gross written premiums grew throughout the Group by around six percent to EUR 33.1 (31.1) billion. Significant growth in premiums was posted by the Reinsurance Division and Retail International.
The group-wide net large loss burden amounted to EUR 1.6 (0.9) billion. This was due in particular to exceptionally high losses from natural catastrophes in Industrial Lines and Reinsurance owing to hurricanes “Harvey”, “Irma” and “Maria”, and the earthquakes in Mexico.
A dividend payment at least equal to the year-earlier level is assured from today’s perspective. Talanx will publish final financial figures, a proposal for the dividend payment and the complete consolidated financial statements on 19 March 2018.
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.