More international, more sustainable, more digital

The Talanx Group is withdrawing from the provision of insurance protection for coal-based risks over the long term. The Group is thus committing to the process of transformation towards a lower-carbon economy and living up to the goals of the Paris Agreement on climate change, which it has already supported for a number of years. The governments of 195 countries have now agreed on a global action plan for a climate-friendly economy. 17 of the 28 member states of the European Union have already decided to phase out fossil fuels or are discussing such a move. As an insurance partner of industry, the Talanx Group will engage in a dialogue with customers to find constructive solutions for strengthening climate protection.

Perseus Technologies GmbH was founded in September 2017 with the vision of enabling permanent IT security and data protection. The aim of Perseus' employee-centered offering is to establish a sustainable cyber security culture along all phases of a cyber attack. The Perseus concept includes browser-based employee training, 24/7 cyber emergency assistance, intelligent anti-virus software and a cyber protection letter.

The Talanx Group is expanding its business in Italy by making a bolt-on acquisition. HDI Assicurazioni, a subsidiary of HDI International AG, the Talanx Group’s Retail International Division, is buying all the shares of Italian non-life insurer Amissima Assicurazioni from Amissima Holdings (indirectly owned by investment funds managed by affiliates of Apollo Global Management, Inc.). In line with its strategy, HDI’s purchase enhances its diversification by expanding its non-life insurance business and will lift its Italian premium volume by approximately EUR 300 million to roughly EUR 2 billion. Roughly 30 percent of this figure will be attributable to the local non-life insurance business. The acquisition moves HDI up from 17th place to 11th place among Italy’s non-life insurers, measured in terms of market share, giving it the chance to reach the top 10 through organic growth. It was agreed not to disclose the amount of the purchase price. The transaction is expected to be accretive to earnings per share, and improve the Group’s return on equity, from 2022 onwards.

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