February 3, 2022
Talanx Group’s net income exceeds the billion euro mark for the first time
Double-digit increase in turnover (10.7%) to 45.5 billion euros
Operating profit jumps around 46% to 2.45 billion euros despite historically high net claims charges
Proposed dividend of EUR 1.60 per share
Earnings outlook of 1.05 to 1.15 billion euros confirmed for 2022
Net income, Talanx group share, crossed the €1 billion mark for the first time on the basis of unaudited consolidated figures, despite historically high net claims charges. This comes a year earlier than expected in 2018, when the Group published its targets for the period to 2022. The Group’s net profit jumped 50% to 1.01 billion euros. Operating profit rose 46% to 2.45 billion euros. Gross inflow of written premiums recorded a double-digit increase of 10.7% to 45.5 billion euros.
The growth in the result is due among other things to the obvious impact of the strategic optimization programs in the divisions Industrial Lines and Retail Germany (primary insurance). The Retail International Division also remained very profitable. As a result, the share of the Group’s net result represented by primary insurance fell from 31% in 2018 to around 45%, while Hannover Re also recorded an increase in its profits.
In November 2021, the Talanx Group had forecast that the Group’s net income for 2021 would be at the high end of the range of 900 to 950 million euros. In 2018, Talanx announced that it would increase earnings per share (EPS) by at least 5% per year on average until 2022.
The Management Board intends to increase the dividend for the 2021 financial year to 1.60 (1.50) euro per share in order to allow shareholders to participate in the success of the Talanx Group. Subject to the approval of the Supervisory Board and the General Meeting, this means that the Talanx Group will maintain its policy of distributing a dividend at least equal to that of the previous year.
As already announced in November, the Management Board expects the Group’s net result for 2022 to increase again and to be in the range of 1.05 to 1.15 billion euros.
Talanx will publish its final key figures and full consolidated accounts on March 14, 2022.
This press release contains forward-looking statements based on certain assumptions, expectations and opinions of the management of Talanx AG. These statements are therefore subject to certain known and unknown risks and uncertainties. A variety of factors, many of which are beyond the control of Talanx AG, affect the business activities, business strategy, results, performance and achievements of Talanx AG. Should one or more of these factors or risks or uncertainties materialize, the actual results, performance or achievements of Talanx AG may differ materially from those expressed or implied by the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying these forward-looking statements are error-free and Talanx AG does not accept any liability as to the actual occurrence of any anticipated developments. Talanx AG does not intend, nor undertake any obligation, to update or revise these forward-looking statements in light of developments that differ from those anticipated.
Group Communications Manager
Telephone: +49 511 3747-2020 [email protected]
Corporate communication Financial communication and sustainable development
Phone: +49 511 3747-2094 [email protected]
Talanx AG published this content on February 03, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on February 03, 2022 6:40:04 PM UTC.
Public now 2022
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