The Talanx Group, the parent company of global reinsurer Hannover Re, expects to report net income of over €1.25 billion for the first nine months of 2023, and has raised its profit expectation for the full year to significantly above €1.5 billion.
The carrier notes a strong operating performance of its primary insurance segments as a driver of the higher profit forecasts.
This earnings target provided by Talanx assumes that large losses do not exceed budget, and that the capital markets do not experience any upheavals and that no material currency fluctuations arise.
Additionally, the previously announced acquisition of Liberty Mutual’s business in Brazil is expected to close in the fourth quarter.
The increased forecast already includes the associated effects of time proportionate consolidation, says Talanx.
The announcement from Talanx follows an updated full-year target from Munich Re yesterday.
