The Group is aiming to grow Group net income by 30% to more than EUR 2.5 billion in 2027 and the planned return on equity should permanently exceed 12%, the Group said in its press release.
According to the press release, Talanx announced the move at its Capital Markets Day in Munich, which also focused on the Group’s international retail business as well as the new targets. In 2024, the Group will clearly exceed the targets it set itself in 2022 for its return on equity, Group net income and dividend distributions in the period up to 2025. The key driver for this apart from profitable growth in its Primary Insurance operations is the acquisition of the former Liberty companies in Latin America in 2023 and 2024. These will contribute more than EUR 80 million after financing costs to Group net income in 2024 – a year ahead of schedule.
“We are going to clearly exceed the targets set out in our current strategy cycle a year early, despite the geopolitical and macroeconomic challenges. Our strategy, which is built around decentralization, diversification and cost leadership, has paid off, and this makes us highly confident that we shall reach our ambitious targets by 2027”, said Torsten Leue, Talanx AG’s CEO, at the company’s Capital Markets Day in Munich. “We continued to expand our diversification strategy in recent years with our acquisition of the former Liberty companies in Latin America and with the particularly profitable growth of our Primary Insurance operations. We have put our words into deeds and taken Primary Insurance to a new level. At the same time, we have significantly enhanced the Group’s resilience while growing its net income. We aim to continue on this path and deliver continuous dividend growth for our shareholders”, the CEO added.
The full press release can be found here.
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