This figure notably surpasses the company’s original annual target of approximately €1.4 billion, marking what Talanx describes as an “extremely successful” year.
The surge in net income is attributed to robust earnings growth across all divisions, alongside large loss payments that remained within budget and inflation-related price increases, as outlined by the firm.
Additionally, Talanx reported an increase in insurance revenue to €43.2 billion, while the projected return on equity stands at 16.6%, exceeding the strategic target of 10%.
In light of these encouraging developments, Talanx has reaffirmed its outlook for the Group’s net income in the current year, 2024, expecting it to surpass €1.7 billion. This projection signifies that the company will achieve its 2025 Group net income target of approximately €1.6 billion one year earlier than initially planned.
The announcement underscores Talanx’s strong financial performance and strategic momentum as it continues to navigate the evolving landscape of the insurance industry.
A statement released by Talanx, said: “The Group will report on the dividend proposal by the Board of Management and Supervisory Board for the financial year 2023 at its annual results press conference on 21 March 2024, where the final key financial figures and the audited consolidated financial statements for 2023 will also be presented. In keeping with its long-term dividend policy, the Board of Management is aiming to exceed the prior-year dividend payment of €2 per share.”
Author: Joanna England
