24th May 2023

HDI have a good start

The industrial insurer HDI Global SE, part of the Talanx Group, has made a good start to the new financial year. The combined ratio of 93.2 came in below the stated medium-term target of 95. The insurance revenue generated totalled E2.1bn. Improvements were also reported in the operating profit(EBIT), which came in at E86m, as well as the contribution to Group net income, which amounted to E69m. HDI Global is publishing financial key figures for the first time in accordance with the international financial reporting standards IFRS 17/9.
Having made a promising start, the German-based industrial insurer is looking to the remainder of the year with optimism. The first three months benefited from a decrease in large loss expenditure compared to the corresponding quarter of the previous year. The transition to the new financial reporting standards IFRS 17 for insurance contracts and IFRS 9 for investments also had a slightly positive effect.

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