The worldwide financial market crisis and the associated crash on equity markets were the dominant factors that shaped the net profit of the Talanx Group in 2008. Despite a thoroughly gratifying performance on the underwriting side, the serious repercussions on investment income prevented Talanx from achieving all the goals that it had set itself and left it unable to post a significant profit in the year under review. The robust capital strength of Talanx nevertheless remains unaffected.

The financial year passed off successfully in those areas that were not directly impacted by the crisis: core underwriting business fared well. The combined ratio improved to 95.2% despite a heavy burden of catastrophe losses. Most notably, the Property/Casualty Primary Insurance segment generated a very good result and pleasing growth in foreign markets despite the financial crisis.

Talanx also has good news to report on its structural optimization: the organizational aspects of the integration of the former Gerling and BHW companies were completed in 2008 – within the envisaged timeframe.