Talanx AG

Earnings Release • Oct 15, 2018

News Details

Ad-hoc | 15 October 2018 19:15

Talanx Aktiengesellschaft: Large and frequency losses in industrial property insurance lead to loss for the quarter in the Industrial Lines Division

Talanx Aktiengesellschaft / Key word(s): Change in Forecast

Talanx Aktiengesellschaft: Large and frequency losses in industrial property insurance lead to loss for the quarter in the Industrial Lines Division

15-Oct-2018 / 19:15 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Based on the current state, the Talanx Group is assuming a large-loss burden for Industrial Lines after nine months of more than EUR 260 million. This therefore is likely to have exceeded the large loss budget for the entire year in Industrial Lines already on 30 September 2018. This has been caused in particular by several large losses and an unusually large accumulation of frequency losses in industrial property insurance. In the third quarter, this is likely to have led to a quarterly loss before taxes in the Industrial Lines Division amounting to more than EUR 100 million. As planned, Talanx is presenting the detailed nine-month results on 12 November.

Talanx is now assuming a Group net income of around EUR 700 million for the year 2018 overall. The return on equity is correspondingly likely to be around 8 percent and therefore at the level of the target for minimum return on equity. This earnings forecast is based on the assumption of a large loss burden for the fourth quarter within the scope of a quarterly budget. From today’s perspective, a dividend payout for 2018 at least equal to the year-earlier level is assured.

Talanx is expecting Group net income amounting to around EUR 900 million for the coming financial year 2019 and this entails a higher profit than originally planned for 2018.

All forecasts assume that any large losses will be within the expected range and that there will be no disruptions on the currency and capital markets.

Contact:

Carsten Werle

Head of Investor Relations

HDI-Platz 1

30659 Hannover

Tel: +49 511 3747 2231

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15-Oct-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	Talanx Aktiengesellschaft
	HDI-Platz 1
	30659 Hannover
	Germany
Phone:	+49 511 3747 2227
Fax:	+49 511 3747 2286
E-mail:	ir@talanx.com
Internet:	www.talanx.com
ISIN:	DE000TLX1005
WKN:	TLX100
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange; Warschau

End of Announcement	DGAP News Service