- Best possible mapping of risk structure
- Comfortable capital resources
Hannover, 23 November 2015
The Talanx Group has received approval from the Federal Financial Supervisory Authority (BaFin) for its internal capital model in compliance with Solvency II. "Unlike the standard model, this internal model allows the Talanx Group to map its risk structure in the best possible way for a highly diversified Group offering reinsurance and primary insurance," comments Dr Immo Querner, Chief Financial Officer at Talanx AG. The new Solvency II supervisory regime will become effective on 1 January 2016.
The Talanx Group has used its internal model in risk management and enterprise management with real success for some years now. The approval confirms that the methods and procedures underlying the model conform with Solvency II. Talanx began its work on the model back in 2007 and has since then been cooperating closely with BaFin.
Under Solvency II the regulatory solvency ratio was 184% and economic solvency ratio amounted to 271% (reporting date 31 December 2014). Talanx therefore enjoys a comfortable capital position.
About Talanx
With premium income of EUR 29.0 billion (2014) and more than 21,300 employees, Talanx is one of the major European insurance groups. The Hannover-based Group is active in some 150 countries. Talanx operates as a multi-brand provider with a focus on B2B insurance. The Group's brands include HDI, which operates in Germany and abroad, the global industrial insurer HDI-Gerling, Hannover Re, one of the world's leading reinsurers, Targo Versicherungen, PB Versicherungen and Neue Leben, the latter all specialized in bancassurance, the Polish insurer Warta, and the financial services provider Ampega. The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA-/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).
You can find additional information by going to www.talanx.com.
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For media enquiries please contact:
Andreas Krosta Tel.: +49 511-3747-2020
E-mail: andreas.krosta@talanx.com
Für Investor Relations kontaktieren Sie bitte:
Carsten Werle, CFA Tel.: +49 511-3747-2231
E-mail: carsten.werle@talanx.com
Marcus Sander, CFA Tel.: +49 511-3747-2368
E-mail: marcus.sander@talanx.com
Disclaimer
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's control, affect Talanx AG's business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement.
Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
