9 February 2023Insurance

Profits at Hannover Re parent Talanx jump 16% in 2022

European insurance group  Talanx, the parent company of Hannover Re and HDI, says it is “fully on track” to achieve its earnings outlook of around €1.4 billion in 2023, having increased its profit by 16% in the financial year 2022.

The group slightly exceeded its FY 2022 target for net profit with a rise of 16% to €1.17 billion, compared to the forecast figure in the range of €1.05 to €1.15 billion range.

Talanx's gross written premiums rose by 17% to €53.4 billion. At 12.9 percent, the return on equity was well above the minimum target of 8.4 percent.

For financial year 2023, the group is anticipating net profit of approximately €1.4 billion, and claims it is fully on track to meet long-term target of €1.6 billion by 2025.

The company's board of management intends to lift the dividend for financial year 2022 by 25 percent to €2.00 (1.60) per share.

For full-year 2023, Talanx’s key financial figures will be based on IFRS 17 and IFRS 9 for the first time. The company is anticipating insurance revenues of approximately €42 billion this year.

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