Germany’s Talanx Group, the parent of reinsurer Hannover Re, has confirmed that its net income reached a record €1,011 million in 2021, thanks mainly to continued growth and optimisation programs in its primary insurance operations.
Notably, gross written premiums saw a double-digit improvement of 10.7% to €45.5 billion in the financial year, with all divisions contributing to this growth.
Talanx achieved this performance despite also taking the highest level of losses from natural disasters that it has ever seen, with floods in Western Europe and Hurricane Ida in the US contributing more than half of the €1,261 million total large losses in 2021.
