Virtual Annual General Meeting passes proposed resolutions by a very large majority

Highest dividend increase since IPO – 25 percent or 40 cents to EUR 2.00 – approved

Talanx AG’s General Meeting passed all resolutions proposed by the Company’s Board of Management and Supervisory Board, including the proposal on the appropriation of distributable profits, by a very large majority. The shareholders approved the highest dividend increase since Talanx AG’s IPO in 2012 – the dividend per share will rise by 25 percent (40 cents) to EUR 2.00. Talanx has either increased its dividend or at the least kept it stable every year since the Company went public. The dividend yield is 5.1 percent, based on the average share price in 2022 of EUR 38.96.

Key Visual HV Talanx 2023

At the General Meeting Torsten Leue, Chairman of Talanx AG’s Board of Management, underscored the Talanx Group’s very strong performance in the past year and during the 2018–2022 strategy cycle, which has now been completed. “The Talanx Group has proved extremely resilient despite challenging circumstances such as the Russian war in Ukraine, high inflation and high losses from natural disasters: premium income saw double-digit growth to a total of EUR 53.4 billion, while Group net income increased to a EUR 1,172 million. At the same time, our return on equity improved to 12.9 percent. Our 8.4 percent annual growth in earnings per share significantly exceeded our minimum target of 5 percent for the period from 2018 onwards.” Looking at the current financial year, he added: “We are maintaining our financial goals for 2023 and are expecting Group net income of EUR 1.4 billion.”

The General Meeting also elected three new members of the Supervisory Board:

Dr Joachim Brenk has been a member of the Executive Board of L. Possehl & Co. mbH in Lübeck since 2009, and its Chairman since 2017. Prior to that, from 2004–2009, he was a member and then Chairman of the Executive Board of Homag AG.

Dr Christof Günther has been managing director of infraLeuna GmbH since 2012, which he joined in 2004. Before that he held a number of management positions at energy group E.ON from 2000 to 2004.

Dr Sandra Reich is an independent business consultant who was a member of the Board of Management of BÖAG Börsen AG from 2009–2016, Head of Norddeutsche Landesbank’s German Desk in Singapore between 2016 and 2017, and then Director of the Institut für nachhaltige Kapitalanlagen until 2019.

The new members replace Antonia Aschendorf, Dr Thomas Lindner and Dr Erhard Schipporeit. These departing members no longer stood for re-election after long and highly successful terms on the Supervisory Board due to their length of service or because they had reached the age limit specified in the Rules of Procedure. “My warmest thanks are due to Ms Aschendorf, Dr Lindner and Dr Schipporeit for their many years of successful work for the Talanx Group. They provided strategic consulting and critical oversight during key milestones in our Group’s development, supporting us with advice, valuable pointers and recommendations”, said Herbert K. Haas, Chairman of Talanx AG’s Supervisory Board. “At the same time, I am very much looking forward to working together with Dr Reich, Dr Brenk and Dr Günther. Their training, professional experience and current positions are excellent fits for the skills set required by our Supervisory Board, and will enable them to make valuable contributions to it.”

Talanx AG’s General Meeting was held virtually for the fourth time in a row. Shareholders were able to submit questions online during the meeting in direct dialogue with the Board of Management and Supervisory Board. A total of 3,676 (3,621) shareholders registered for the meeting. This corresponded to 91.57 (92.47) percent of the Company's voting share capital.

Talanx AG’s next General Meeting is scheduled to take place on 7 May 2024.

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.