Talanx on track to achieve the mid-term financial targets

European insurance group Talanx says it is well on track to achieve the mid-term financial targets for the group announced in October 2018. Versus the return on equity minimum target level of 8.3 percent for 2019, management currently expect to deliver more than 9.5 percent. And versus the ambition to grow earnings per share by at least 5 percent on average until 2022, the group expects to achieve an increase of at least 6 percent in 2019, versus the €850 million ($940 million) original net income outlook for 2018.

Speaking at its Capital Markets Day 2019 in Frankfurt, Torsten Leue, chairman of the board of management, said: “One year after presenting our Strategy 2022, we are well on track to deliver on the financial targets presented at the Capital Markets Day 2018, for the financial year 2019 as well as the following years. Our strategy is supported by a purpose-driven performance culture. I am confident that our group will continue to create significant value for our clients and our shareholders.”

Edgar Puls, chief executive officer of industrial lines, said: “The new management team of industrial lines is committed to push profitability. We will lever the insights and instruments of our very successful 20/20/20 initiative to make the overall business more profitable and work towards achieving the 8-10 percent return on equity target that we have set ourselves.”

The industrial lines division also has a combined ratio target of 97 percent in the medium term and 95 percent long-term.
The Talanx Group continues to be operating with high resilience. This is reflected in strong capitalisation (196 percent Solvency 2 ratio), limited exposure to market risk (44 percent of solvency capital requirement), and a high level of business diversification (57 percent of primary insurance premiums from outside of Germany, all figures for the first nine months of 2019).

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

​ ​Africa Re lays the foundation of its new head office ​ Lloyd’s tackles unacceptable behaviour in the workplace ​ CAC Specialty establishes strategic relationship with Fortress Investment Group ​ Aviva unveils simplified operating divisions ​ Insurers unite to improve female financial futures ​ Sompo International appoints chief executive officer ​ Marsh launches enhanced cyber risk quantification suite ​ Need for D&O insurance set to increase in China, Brazil and Canada

Don't miss our insurtech email newsletter - sign up today