▪️ Net profit Q2: approx. € 2.1 bn (significantly above consensus of € 1.624 bn)
▪️ Drivers: Low major losses, strong investment result
▪️ ERGO: In line with expectations, life reinsurance under pressure
▪️ Currency effect: Negative due to USD devaluation
▪️ H1 net profit: approx. € 3.2 billion
📌 Annual target for 2025: € 6 billion confirmed
