German insurance group Talanx informed it has started FY2024 with a strong first quarter exceeding the analysts' consensus of EUR 466 million with a preliminary consolidated net income of EUR 572 million. This development is primarily driven by the strong performance of the primary insurance activities.

“Despite this positive development in the first quarter, Talanx is maintaining its full-year forecast. However, confidence has now increased that the targeted group net income of more than EUR 1.7 billion can be exceeded significantly.

This earnings target assumes that large losses will not exceed the large loss budget, that the capital markets do not experience any upheavals and that no material currency fluctuations arise”.

Talanx AG will report the final results for the first three months of the current financial year 2024 as planned on 15 May 2024.