The Talanx Group is the third-largest insurance group in Germany. Talanx operates as a multi-brand provider. Its brands include HDI and HDI-Gerling, providing insurance for private and industrial customers, Hannover Re, one of the industry’s most profitable reinsurers, Aspecta, which markets its insurance products through brokers and multiple agents, the bancassurance specialists CiV, PB and Neue Leben as well as the investment fund provider and asset manager AmpegaGerling. The Group transacts business in the segments of Property/Casualty Primary Insurance, Life Primary Insurance, Non-Life Reinsurance, Life/Health Reinsurance and Financial Services. The Hannover-based Group is active in 150 countries. The world’s leading rating agencies consider the financial strength of Talanx to be “excellent”.
Key figures
Group key figures |
2008 |
2007 |
+/– % |
|
|
IFRS |
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|
Gross written premium |
EUR m |
19,005 |
19,130 |
–1 |
|
Property/Casualty Primary Insurance |
% |
31 |
31 |
±0 |
|
Life Primary Insurance |
% |
30 |
28 |
+2 points |
|
Non-Life Reinsurance |
% |
24 |
27 |
–3 points |
|
Life/Health Reinsurance |
% |
15 |
14 |
+1 points |
|
Net premium earned |
EUR m |
14,915 |
14,895 |
±0 |
|
Underwriting result |
EUR m |
–559 |
–992 |
+44 |
|
Combined ratio (property/casualty insurance and non-life reinsurance) 1) |
% |
95.2 |
99.3 |
–4.1 points |
|
Net investment income |
EUR m |
1,610 |
2,702 |
–40 |
|
Operating profit (EBIT) |
EUR m |
618 |
1,462 |
–58 |
|
Net profit (after tax) |
EUR m |
121 |
999 |
–88 |
|
Group net income (after minorities) |
EUR m |
187 |
477 |
–61 |
|
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|
Policyholders’ surplus |
EUR m |
7,792 |
8,331 |
–6 |
|
Total shareholders’ equity excluding minority interests |
EUR m |
3,614 |
3,732 |
–3 |
|
Minority interests |
EUR m |
2,104 |
2,431 |
–13 |
|
Hybrid capital |
EUR m |
2,074 |
2,168 |
–4 |
|
Return on equity after tax 2) |
% |
5.1 |
13.1 |
–8 points |
|
Investments (excluding funds held by ceding companies) |
EUR m |
62,224 |
61,572 |
+1 |
|
Total assets |
EUR m |
96,045 |
95,395 |
+1 |
|
Staff (full-time equivalents as at 31.12. of the financial year) |
16,541 |
15,996 |
+3 |
|
1) Combined ratio adjusted for deposit interest received 2) Group net income (after minorities) relative to average shareholders’ equity ( position as at 01.01. + position as at 31.12.) / 2 |
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