The Group
Talanx has seen particularly strong growth in the past decade, generating gross written premiums of EUR 53.4 billion for 2022. The Group is an extremely successful multibrand provider in the insurance and financial services industry. Its parent, Talanx AG, was granted a reinsurance license at the beginning of 2019. As a result, the company is no longer a pure-play holding company but is also active at an operational level, and as an intragroup reinsurer for its primary insurance companies. HDI V.a.G., a mutual insurance company, is Talanx AG’s largest shareholder with a stake of roughly 77%. The remaining 23% or so of shares are in free float.
The Group’s companies operate under a number of different brands. These include HDI, which provides insurance solutions to retail customers and industrial clients; Hannover Re, one of the world’s leading reinsurers; bancassurance specialists LifeStyle Protection, neue leben insurers and TARGO insurers; and Ampega, a fund provider and asset manager. The Talanx Group does business through its Industrial Lines, Retail Germany, Retail International and Reinsurance divisions and in the area of financial services. The Hannover-based Group is active in more than 175 countries.
EUR million | FY 2023 | FY 20221 | +/- |
|---|---|---|---|
Insurance revenue | 43,237 | 39,645 | +9% |
Insurance service result | 3,234 | 2,454 | +32% |
Combined ratio for property/casualty primary insurance and property/casualty reinsurance | 94.3% | 95.2% | -0.9 ppts |
Net insurance financial and investment result before currency effects | 1,130 | 824 | +37% |
Operating profit/loss (EBIT) | 3,068 | 2,815 | +9% |
Group net income (after non-controlling interests) | 1,581 | 706 | +123% |
Return on equity2 | 16.6% | 8.2% | +8.4 ppts |
- 1) Adjusted in accordance with IFRS 9 and IFRS 17 in conjunction with IAS 8.
- 2) The ratio of annualised net income for the reporting period excluding non-controlling interests to average shareholders’ equity excluding non-controlling interests.
