In 1H2025 the Talanx Group generated record net income of EUR 1,373 (1,090) million and is raising its net income forecast for the full year from more than EUR 2.1 billion to roughly EUR 2.3 billion, the Group announced.

According to the Group’s press release, the growth in profit was driven by a strong operating business performance, which benefited from normalised large loss payments and positive currency effects in the second quarter. All divisions contributed to the positive profit performance in the first half of the year.

Adjusted for currency effects, insurance revenue rose by 5% (2% in nominal terms) to EUR 24.2 (23.6) billion and was driven in Primary Insurance in particular by the Corporate & Specialty business and the Retail International business. The insurance service result rose 11% to EUR 2.6 (2.3) billion. The return on equity was 23.4% (20.3%).

The insurance service result increased by 11% to EUR 2.6 (2.3) billion. Following a first quarter that was hit by the highest losses from natural disasters in the Group’s history, large loss payments normalised to EUR 1,134 (750) million, below the pro rata budget for the period of EUR 1,273 million. At EUR 624 million, the forest fires in California were the largest single loss. Other large losses from natural disasters included the earthquake in Myanmar (EUR 59 million) and the tornadoes in the US Midwest (EUR 50 million). All in all, man-made large losses amounted to EUR 369 million, while large losses from natural disasters totalled EUR 764 million. The combined ratio improved to 90.7% (91.2%).

The net insurance financial and investment result before currency effects improved to EUR 848 (784) million. Operating profit (EBIT) climbed 14% to EUR 2.9 (2.5) billion. The Solvency 2 ratio as at 30 June 2025 was 224% (31 March 2025: 229%).

“The first half of 2025 has shown that our diversified structure and focused strategy are paying off”, commented Torsten Leue, Talanx AG’s CEO. “Despite high large loss payments in the first quarter, we generated record net income in H1 while also continuing to increase our resilience. Our operating strength and the cushion in our large loss budget of around EUR 140 million make us optimistic about the third quarter and the remainder of the year, despite the forthcoming hurricane season: we are raising our Group net income forecast for 2025 from more than EUR 2.1 billion to roughly EUR 2.3 billion”, Talanx AG’s CEO added.