The Talanx Group has announced its final 1Q2025 results, according to which the Group has started 2025 with the strongest quarterly result in its history to date. Despite high large loss payments it generated Group net income of EUR 604 (576) million and is well on track to achieve its target for the year of more than EUR 2.1 billion, the Group said in its recent press release.

According to the press release, the insurance service result rose slightly to EUR 1,118 (1,088) million. Payments for large losses jumped significantly to EUR 881 (76) million, EUR 276 million more than the large loss budget. The largest single loss – the forest fires in California at EUR 640 million – was also one of the largest losses from a natural disaster in the Group’s history to date. Other large losses included the earthquake in Myanmar (EUR 25 million) and Cyclone Alfred in Australia (EUR 17 million). All in all, man-made large losses amounted to EUR 173 million, while large losses from natural disasters totalled EUR 708 million. The combined ratio was 92.8% (90.8%).

The net insurance financial and investment result before currency effects rose 13% to EUR 448 (396) million. The Solvency 2 ratio as at 31 March 2025 was 229%.

The Talanx Group is confirming its 2025 earnings target of more than EUR 2.1 billion. This puts it on course to achieve its medium-term targets: the Group is aiming for Group net income of more than EUR 2.5 billion and an increase in the dividend to EUR 4.00 per share for 2027.

The key takeaways of the Group’s report:

• Insurance revenue up 5% to EUR 12.4 (11.7) billion
• Group net income climbs 5% to EUR 604 (576) million despite high large losses
• Primary Insurance accounts for 60% of Group net income in first quarter
• Combined ratio of 92.8% (90.8%) recorded
• Return on equity of 20.1% (21.3%)
• Resilience enhanced by an additional EUR 1.0 billion in 2024
• 2025 earnings target of more than EUR 2.1 million confirmed

“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 EUR 2.1 billion”, commented Torsten Leue, CEO of Talanx AG.