Based on its consolidated unaudited figures, Talanx Group, the parent company of Hannover Re, is expecting a group net income of €1.58 billion for the 2023 financial year.
Talanx noted that this “clearly” surpasses its original annual target of approximately €1.4 billion.
The firm said that the positive trend in net income was driven by earnings growth in all divisions and large loss payments that remained within budget, plus inflation-related price increases.
Talanx also disclosed that its insurance revenue rose to €43.2 billion, while the projected return on equity of 16.6% exceeded the strategic target of 10%.
On the back of this positive news, Talanx has confirmed the outlook for the Group’s net income of more than €1.7 billion for the current year, 2024.
This means that the firm will exceed its 2025 Group net income target of around €1.6 billion one year earlier than planned.
“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,” Talanx said.
The firm added, “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.”
