Hannover/Warsaw, 26 June 2014
The Talanx Group is aiming to increase the share of gross premiums in primary insurance generated from foreign markets to 50 percent. "Our international business is developing well. We may even achieve this goal purely on the basis of organic growth by 2018", Herbert K. Haas, Chief Executive Officer of Talanx AG, stated at Capital Markets Day in Warsaw. The spotlight of the twoday event is on foreign business in the primary sector.
Talanx is currently posting consistent growth in international business. For 2014 the Group anticipates an operating profit (EBIT) of at least EUR 200 million (2013: EUR 185 million) in the Retail International segment. The Group forecasts EBIT of slightly below EUR 80 million (2013: EUR 72 million) for the Polish subsidiary WARTA. By 2017 this figure is to be boosted to at least EUR 100 million. With the Turkish company HDI Sigorta having reached the breakeven point, all units in the segment are now operating at a profit.
The focus of international retail business is on strategic growth markets as well as on core competencies in motor insurance, bancassurance and the integration of new units. For 2014 the division expects to utilise its earnings not only to finance organic growth but also for the first time to make profit transfers to the holding company. In the Industrial Lines segment the premium income generated abroad - at 54 percent - already exceeds the Group's medium-term target. New business written with high-profile major clients as well as the successful launch of the new HDI-Gerling branches in Toronto, Singapore and Bahrain have played a crucial part here. In the context of its medium-term objectives the company also believes that it remains on course going forward to earn a return on equity of at least 750 basis points above the 5-year average for 10-year German government bonds. For the first time the Group is also defining concrete, medium-term minimum return-on-equity targets for the divisions.
Talanx Capital Markets Day 2014 is being held on 26/27 June 2014 in Warsaw. The event will be live webcast at www.talanx.com.
About Talanx
With premium income of EUR 28.1 billion (2013) and more than 21,500 employees, Talanx is Germany's third-largest and Europe's seventh-largest insurance group. The Hannover-based Group is active in some 150 countries. Talanx operates as a multibrand provider with a focus on B2B insurance. The Group's brands include HDI, the global industrial insurer HDI-Gerling, Hannover Re, one of the world's leading reinsurers, Targo Versicherungen, PB Versicherungen and Neue Leben, the latter all specialized in bancassurance, and the financial services provider Ampega. The takeovers of TU Europa and TUiR Warta S.A. have now made Poland the second core market of Talanx. The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA-/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX as well as on the stock exchanges in Hanover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).
You can find additional information by going to
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twitter.com/talanx_en.For media enquiries please contact:
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For Investor Relations please contact:
Carsten Werle
Tel.: +49 511-3747-2231
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Marcus Sander
Tel.: +49 511-3747-2368
E-Mail: marcus.sander@talanx.com
Disclaimer
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's control, affect Talanx AG's business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
