Talanx Group posts strong Q1 numbers

Talanx Group posts strong Q1 numbers | Insurance Business

Talanx Group posts strong Q1 numbers

Talanx Group, the parent company of insurance brands HDI and Hannover Re, is “off to a good start” in 2021.

That was how the German business described its performance when Talanx released the group’s financial results for the first quarter of the year. Here’s how Talanx fared in the period:

Metric

Result

Growth from 2020

Gross written premium

€13.6 billion (approx. $16.53 billion)

9.4%

Operating profit

€625 million

11.8%

Group net income

€277 million

24.5%

  

According to Talanx, all its four segments – industrial lines, retail Germany, retail international, and reinsurance – enjoyed growth. Of the group income, €39 million came from industrial lines; €84 million, retail Germany; €54 million, retail international; and reinsurance, €153 million.

“The trend in the first quarter is extremely positive and represents a good start to the year even without the special effects,” stated Torsten Leue, chair of Talanx AG’s board of management. “Our group has grown and all divisions contributed to the strong results.

“This shows that our growth initiatives are paying off and that the measures taken to optimize industrial lines and retail Germany are working across the board.”