- Written premium income up 13 percent to EUR 39.5 billion
- Operating profit climbs 20 percent to EUR 2.4 billion
- Pleasing performance by all divisions
-“20/20/20” programme in the Industrial Lines Division exceeds expectations
The Talanx Group generated record results of EUR 923 (703) million in financial year 2019, based on preliminary unaudited consolidated figures – an increase of roughly 30 percent. Operating profit (EBIT) saw a double-digit rise, climbing 20 percent to EUR 2.4 (2.0) billion. Gross written premiums were up 13 percent to EUR 39.5 (34.9) billion.
The record results are due to increased earnings in all four divisions, with Industrial Lines and Reinsurance improving by particularly large amounts. The “20/20/20” programme, which aims to lift profitability in the area of fire insurance, is ahead of schedule. Prices have already been increased by a good 30 percent – above the goal for 2020 of 20 percent. The combined ratio for the Industrial Lines Division was in line with forecasts at roughly 101 (previous year: 109.1) percent, while the division’s contribution to Group net income is now clearly positive again. The proportion of net income accounted for by primary insurance rose overall, despite an extremely strong performance of the Group’s reinsurance operations.
For the financial year 2020, the Talanx Group continues to expect Group net income to range between “more than EUR 900 million” and EUR 950 million.
Talanx will publish its final key financial figures for the year, its dividend proposal and its full consolidated financial statements on 16 March 2020.