TALANX closed 1H2012 with a double operating profit

TALANX Group closed the first half of 2012 with an operating profit of EUR 855 million - increasing in absolute value by EUR 424 million year-on-year. At the same time, the group's net income went up 65% to EUR 354 million.

"Despite a challenging environment we succeeded in maintaining the momentum of the first quarter of 2012 while also systematically driving forward our strategy of expansion. We are delivering on our promises. At the same time we are benefiting from the fact that we moved swiftly with our investment policy to respond to developments in Europe. Our exposure to countries in Southern Europe is marginal. We continue to look to the full financial year with considerable optimism", commented Herbert K. HAAS, CEO of TALANX AG.

The gross premiums written by the group increased in the first half by 9% relative to the corresponding period of the previous year, to reach EUR 13.6 billion.

In terms of GWP, with the exception of the retail Germany segment (EUR 3.52 billion), all areas recorded double-digit percentage growth rates. The Non-Life Reinsurance division delivered the strongest premium growth in percentage terms in the first half of 2012 (15% to EUR 4.08 billion), followed by Industrial Lines (+12% to EUR 2.25 billion), Retail International division (+12% to EUR 1.33 billion) and the Life/Health Reinsurance (+12% to EUR 2.81 billion).

See the Full Interim Report as at 30 June 2012 here!

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