15. 16.04.2024 – Talanx FY 2023 Roadshow Munich Stuttgart Helsinki Oslo
Talanx:
Sustainable profitability
FY 2023 results roadshow | 15 +
Agenda
1 Talanx at a glance
2 Group highlights
3 Segment highlights and outlook
4 Group outlook
5 Appendix
FY 2023 results roadshow | 15 +
1 Talanx has a history of 120 years
Talanx IPO
|
Gerling |
|||||||||||||
|
acquisition |
|||||||||||||
|
|
|||||||||||||
|
IPO |
2012 |
||||||||||||
|
Foundation |
Foundation |
||||||||||||
|
Entry retail |
reinsurance |
2006 |
|||||||||||
|
as a liability |
|||||||||||||
|
& fire |
business |
1994 |
|||||||||||
|
mutual |
|||||||||||||
1966
1953
1903
2023
EUR 1.5bn net income
|
3 |
FY 2023 results roadshow | 15 + |
1 Talanx operates a multi-brand business with 4 segments and …
TOP 6
insurance provider in
|
Industrial |
Retail |
Retail |
Reinsurance |
|
Lines |
|
International |
~75%
in hard B2B markets
More than
175 countries
~ 28,000
employees worldwide
1 Based on insurance revenue; source: company publications, as of
|
4 |
FY 2023 results roadshow | 15 + |
1 … a well-balanced business with a low risk profile
Underwriting
Insurance revenue, 2023, in EURbn
|
LatAm |
||||
|
10% |
APAC |
|||
|
North |
13% |
Others |
||
|
America |
||||
|
1% |
||||
|
29% |
43 |
|||
|
EURbn |
||||
|
31% |
||||
|
15% |
Rest of |
|||
|
|
Investments
Investment portfolio as of
Fixed-income securities
81%
135
EURbn
17%
1%
Solvency
Solvency 2 CAR for
S2 CAR as of
to be published on
222%
Ratings
Insurer financial strength rating (
A+
(outlook: stable)
A+
(outlook: stable)
|
Strong |
Low |
|
|
diversification |
investment risk |
|
Solid
capitalisation
Strong ratings
FY 2023 results roadshow | 15 +
Agenda
1 Talanx at a glance
2 Group highlights
3 Segment highlights and outlook
4 Group outlook
5 Appendix
FY 2023 results roadshow | 15 +
2 2023 - Another record year …
|
Record result |
High quality earnings |
Increased dividend |
|
Net income |
Resiliency2 |
Dividend per share4 |
||
|
in EURm |
in EURm |
in EUR |
||
|
1,5811 |
> 3,5003 |
2.35 |
||
Ahead of schedule for 2025 strategic targets
1 IFRS 4 2022:
3 Undiscounted;
FY 2023 results roadshow | 15 +
2 … with strong
|
Industrial Lines |
|
Retail |
Combined ratio
91.5 %
in LatAm
2
Retuon equity
11 %
|
Underwriting champion |
Top player in LatAm |
Stable profit contributor |
FY 2023 results roadshow | 15 +
2 A promise is a promise - Outlook 2023 outperformed …
|
Insurance |
Group |
Return |
|
revenue |
net income |
on equity |
|
in EURbn |
in EURm |
|
> 42 |
43.21 |
|
Outlook 2023 |
2023 |
|
1,581 |
|
|
~ 1,4002 |
|
|
Outlook 2023 |
2023 |
|
16.6% |
|
|
> 10%3 |
|
|
Outlook 2023 |
2023 |
1 Insurance revenue growth 2023 versus 2022: +9% (currency-adjusted: +12%) | 2 Initial guidance as communicated with 2022 results; was lifted to >1,400 with 6M 2023 results and lifted to >1,500 with 9M 2023 results 3 Initial guidance as communicated with 2022 results; was lifted to >> 10% with 6M 2023 results
FY 2023 results roadshow | 15 +
2 … supported by favorable level of large losses…
Net large losses in relative terms
|
For 2012 - 2021 IFRS 4, in % of net premiums earned (P/C business only) |
NatCat |
Corona losses (P/C business only) |
||
|
For 2022 and 2023 IFRS 17, in % of insurance revenues (P/C business only) |
Man-made |
|
||
|
10.0% |
9.8% |
|||||||||||
|
2.4% |
||||||||||||
|
Ø 7.0 |
6.8% |
6.1% |
6.4% |
6.1% |
6.8% |
6.4% |
5.4% |
6.9% |
6.8% |
6.2% |
||
|
1.9% |
||||||||||||
|
5.1% |
2.2% |
2.8% |
1.6% |
|||||||||
|
2.6% |
0.9% |
|||||||||||
|
1.3% |
2.8% |
|||||||||||
|
4.0% |
4.5% |
|||||||||||
|
7.6% |
1.4% |
|||||||||||
|
3.8% |
4.6% |
3.3% |
4.0% |
3.8% |
5.0% |
4.8% |
4.6% |
|||||
|
3.0% |
||||||||||||
|
2.1% |
1.9% |
|||||||||||
|
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
Note: Definition "large loss": In excess of
Large losses of
Top 3 largest NatCat losses:
Italy storm / hailEUR 354m - Türkiye earthquake
EUR 315m Mexico hurricane "Otis"EUR 171m
FY 2023 results roadshow | 15 +
Attachments
Disclaimer
Tax Transparency Report 2023
Senior fraud getting worse, says Rep. Kelly
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