HANOVER (dpa-AFX) - Insurance group Talanx (HDI) has slightly exceeded its own profit target for 2022 despite high catastrophe losses. At just over 1.17 billion euros, net income was slightly above the target range of 1.05 to 1.15 billion, the MDax-listed company announced in Hanover on Thursday. This was also more than analysts had expected on average. For the new year, CEO Torsten Leue is targeting a further increase to around 1.4 billion euros - albeit under the new accounting standard IFRS 17. If this had already applied in 2022, the annual profit now reported would reportedly have been around 100 million euros higher.

The change in accounting also entails a new key figure: Instead of gross and net premiums, insurance revenue will be reported in the future. This is expected to amount to around 42 billion euros at Talanx in 2023. For 2022, shareholders can look forward to a 25 percent higher dividend of 2 euros per share. The majority shareholder of the Group is Haftpflichtverband der Deutschen Industrie, a mutual insurance association. The Talanx Group in turn owns a good half of Hannover Re, the world's third-largest reinsurer./stw/zb