Talanx net income jumps 25% YoY in FY 2024

Insurance revenue in the Corporate & Specialty division grew 10% YoY.

Talanx Group reported a $2.16b (€1.98b) net income for 2024, marking a 25% year-on-year (YoY), more than double the growth rate of its 11% rise in insurance revenue to $52.43b (€48.1b).

Operating profit (EBIT) surged to $5.34b (€4.9b), and the return on equity improved to 17.9%.

All divisions contributed to the profit growth, with Primary Insurance accounting for 49% of group net income, up from 46% in 2023.

Talanx's Board of Management has proposed a dividend increase of $0.38 (€0.35) to $2.94 (€2.70) per share.

Insurance revenue in the Corporate & Specialty division grew 10% YoY to $10.9b (€10.0b), reaching double-digit billion levels for the first time. EBIT increased to $765.18m (€702m), and net income contribution rose to $546.09m (€501m).

The Reinsurance division’s revenue increased 8% to $28.78b (€26.4b), driven by Property/Casualty Reinsurance.

EBIT surged to $3.59b (€3.3b), with net income contribution rising 28% YoY to $1.27b (€1.17b).

Large loss payments remained below budget at $1.78b (€1.63b), despite major claims from Hurricane “Milton” ($316.1m (€290m)), Eastern European floods, and New Caledonia unrest.

Talanx raised its 2030 greenhouse gas intensity reduction target to 55%, up from 30%, with sustainable investments increasing to $15.26b (€14b) in 2024.

For 2025, the group expects net income to exceed $2.29b (€2.1b), maintaining its trajectory toward its $2.73b (€2.5b) target by 2027, with a projected dividend increase to $4.36 (€4.00) per share.