The insurance group Talanx is raising its profit forecast for 2025 following a record profit in the first half of the year. For analysts, this is not too much of a surprise.
Instead of more than 2.1 billion, net profit for the year as a whole is now expected to reach around 2.3 billion euros, the Group with the main brand HDI announced in Hanover on Thursday. In the first half of the year, the insurer absorbed immense losses caused by the forest fires in California. These were particularly costly for Hannover Re, the world's third-largest reinsurer, in which Talanx holds the majority of shares.
On balance, Talanx earned almost 1.4 billion euros - 26 percent more than a year earlier and more than analysts had expected on average. The primary insurance division, which includes insurers in Poland and Latin America in addition to HDI, recorded particularly strong growth. This time, the division even contributed 51 percent to the Group result. The rest of the profit came from reinsurance.
"Despite high major claims payments in the first quarter, we achieved a record half-year result and at the same time further strengthened our resilience," said CEO Torsten Leue. The destruction caused by the fires in Los Angeles at the beginning of the year cost the Group more than 624 million euros
