DGAP-Adhoc: Talanx AG realigning German life insurance business


Talanx Aktiengesellschaft  / Key word(s): Strategic Company Decision

28.07.2015 19:18

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Talanx AG realigning German life insurance business - goodwill in German
life insurance business of EUR 155 million written off in full - Group net
income of between EUR 600 million and EUR 650 million forecast - proposed
dividend to be unaffected by goodwill impairment

As part of a realignment of its German life insurance business, the Talanx
Group split Board of Management responsibilities for the life insurance and
property/casualty lines in the Retail Germany Division in the second
quarter. As a result of this split, goodwill will be monitored at the level
of the two lines individually, in contrast to the past. Consequently, the
goodwill of EUR 155 million attributable to the German life insurance
business has been written off in full. Taking this impairment loss into
account, Talanx is expecting Group net income of between EUR 600 million
and EUR 650 million for the current financial year. The Board of
Management's proposed dividend for financial year 2015 will remain
unaffected by the goodwill impairment. From today's perspective, it will
thus be based on an as-if IFRS net income of between EUR 755 million and
EUR 805 million at a pay-out ratio of 35% to 45%.


28.07.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Talanx Aktiengesellschaft
              Riethorst 2
              30659 Hannover
              Germany
Phone:        +49 511 3747 2227
Fax:          +49 511 3747 2286
E-mail:       ir@talanx.com
Internet:     www.talanx.com
ISIN:         DE000TLX1005
WKN:          TLX100
Indices:      MDAX
Listed:       Regulated Market in Frankfurt (Prime Standard), Hanover;
              Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
              Stuttgart
 
End of Announcement                             DGAP News-Service
 
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