Talanx reported net income shareholders of €604 million for the first quarter of 2025 (Q1 2025 Q1), a 5% increase from €576 million in the same period last year.

The German-based insurance company also increased diluted earnings per share, reaching €2.34 from €2.23 in the first quarter of 2024.

The main insurance sector contributed 60% of the group's net income, while reinsurance accounted for 40%.

Talanx's operating profit (EBIT) rose 4% to €1.3 billion, up from €1.2 billion in the first quarter of the previous year.

The company's insurance revenue grew 5% to €12.4 billion, compared with €11.7 billion a year ago.

It is worth noting that insurance revenues in the corporate and professional sectors grew 10% to €2.6 billion, while the retail international sector experienced 4% to €2.3 billion, with growth observed in Poland, Chile and Colombia.

The group's net income now includes previously unconsolidated minorities in net income from Polish subsidiaries WARTA and TU EUROPA, as well as after the end of its partnership with Meiji Yasuda Life Insurance.

In the German retail sector, insurance revenues reportedly amounted to €812 million for the quarter, attributed to the expiration of a partnership with Targobank.

Insurance revenue in the reinsurance sector increased by 5% to 7 billion euros.

The property and casualty (P&C) reinsurance sector experienced 7% to reach €5.1 billion, while the life/health reinsurance sector remained stable at €1.9 billion.

Growth in the P&C sector is considered as a new business and continuous pricing level.

The company said in a statement that the California forest fires lost 640 million euros, the biggest loss of natural disasters in the group's history.

The combined ratio for the quarter was 92.8%, down from 90.8% in the previous year.

Talanx has confirmed its earnings target for 2025 exceeding €2.1 billion, targeting a net group income of more than €2.5 billion, and recommending a dividend increase to €4.00 per share in 2027.

Talanx CEO Torsten Leue said: “We have a good start in 2025, which shows that our diverse business model is paying off. Despite seeing forest fires in California in the first quarter, one of the biggest natural disaster losses in the group’s history, we have achieved the highest quarters in all quarters to date, which is our highest range in the year.

“I am very confident that we will reach our target net income of €202.5 billion.”

In February, the group's retail international division agreed to divest its Ecuadorian entity, HDI Seguros, to group Financiero Atlántida.