Talanx has reported net income attributable shareholders of €604m for the first quarter of 2025 (Q1 2025), a 5% increase from €576m in the same quarter the previous year.  

The German based insurer’s diluted earnings per share also rose by 5%, reaching €2.34 from €2.23 in Q1 2024.  

The primary insurance sector contributed 60% of the group’s net income, while reinsurance accounted for a 40% share. 

Talanx’s operating profit (EBIT) grew by 4% to €1.3bn, up from €1.2bn in Q1 of the previous year.  

The company’s insurance revenue increased by 5% to €12.4bn, compared with €11.7bn in the same period last year.  

Notably, the corporate & specialty division saw a 10% rise in insurance revenue to €2.6bn, and the retail international division experienced a 4% increase to €2.3bn, with growth observed in Poland, Chile and Colombia. 

The group’s net income now includes the previously unconsolidated minority interest in the net income of Polish subsidiaries Warta and TU Europa, and following the end of a partnership with Meiji Yasuda Life Insurance.  

In the retail Germany division, insurance revenue for the quarter was reported at €812m, attributed to the expiration of a partnership with Targobank. 

The reinsurance division increased its insurance revenue by 5% to €7bn.  

The property and casualty (P&C) reinsurance segment experienced a 7% rise to €5.1bn, while the life/health reinsurance segment remained stable at €1.9bn. 

The P&C segment’s growth was credited to new business and ongoing pricing levels.  

The forest fires in California resulted in a loss of €640m, one of the largest from a natural disaster in the Group’s history, the company said in a statement.   

The combined ratio for the quarter was 92.8%, down from 90.8% the previous year. 

Talanx has confirmed its 2025 earnings target of more than €2.1bn and is aiming for a Group net income of more than €2.5bn, with a proposed dividend increase to €4.00 per share for 2027.  

Talanx CEO Torsten Leue said: “We got off to a strong start in 2025, demonstrating that our diversified business model is paying off. Although the first quarter, which saw the forest fires in California, produced one of the largest losses from a natural disaster in the Group’s history, we also generated our strongest quarterly net income to date. This shows we are robustly positioned with our mix of Primary Insurance and Reinsurance, which is expected to normalise again in the course of the year.  

“I am highly confident that we shall reach our target net income for 2025 of more than €2.1bn.” 

In February, the Group’s retail international division agreed to divest its Ecuadorian entity, HDI Seguros, to Grupo Financiero Atlántida.