Talanx reports preliminary Q1 earnings

Talanx reports preliminary Q1 earnings | Insurance Business New Zealand

Insurance News

Talanx reports preliminary Q1 earnings

Final figures to be published middle of May

Insurance News

By
Terry Gangcuangco

Hannover Re and HDI parent firm Talanx has published its preliminary financials for the first quarter of 2024.

In an update ahead of the release of its final quarterly results on May 15, Talanx said the group’s preliminary consolidated net income surpassed analysts’ consensus by amounting to €572 million. The corresponding result in 2023 was €423 million.

The company noted: “The Talanx Group has started the current financial year 2024 with a very strong first quarter and has significantly exceeded the analysts’ consensus of €466 million with a preliminary consolidated net income of €572 million.

“This development is primarily driven by the strong performance of the primary insurance activities.

“Despite this positive development in the first quarter, Talanx is maintaining its full-year forecast. However, confidence has now increased that the targeted group net income of more than €1.7 billion can be exceeded significantly.

“This earnings target assumes that large losses will not exceed the large loss budget, that the capital markets do not experience any upheavals, and that no material currency fluctuations arise.”

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