Facts and Figures
The latest key figures of the Talanx Group reflect the anticipated results of the 2009 financial year. Details are also provided of the favorable ratings assigned to the Talanx Group by the highly reputed rating agency Standard & Poor’s.
For the 2009 financial year the Talanx Group anticipates a result on the scale of the years prior to the financial crisis. Group CEO Herbert K. Haas expressed satisfaction with the financial year: "Talanx is back to the level of 2007, and that was a good performance. Although we have lost a year, the financial crisis has demonstrated the ability of the Group to stand up well even in the face of severe turmoil: the Talanx Group continues to enjoy very robust financial strength."
While Mr. Haas believes that the insurance industry has largely withstood the global financial market crisis, the after-effects – especially on the real economy – will continue to reverberate for some time to come, both on capital markets and in terms of consumer restraint. Above all, the low interest rate level and marked volatilities are confronting the entire industry with especially exacting challenges.
Following the rapid and successful integration of the Gerling companies, Talanx is realigning its organization in primary insurance business. The goal is a structure that enables the Group to respond flexibly to changes in the market. As Mr. Haas explained: "By retooling the Group segments according to customer groups, Talanx is at the same time seeking to put in place a platform for further growth and greater efficiency." In the future, the Group intends to operate in primary insurance with the three divisions of Industrial Insurance Worldwide, Retail Germany and Retail Foreign. The Reinsurance Division will not be impacted by this restructuring.
Along with organic growth – which is very significant in some areas – the Group can also report further advances in foreign business with its entry into the Mexican and Indian markets in 2009. The cooperation with Swiss Life is also progressing according to plan.
