Talanx:

Sustainable profitability

Quirin Champions Conference | Frankfurt, 23 April 2024

Bernt Gade, Investor Relations

Agenda

1 Talanx at a glance

2 Group highlights

3 Segment highlights and outlook

4 Group outlook

5 Appendix

2 Quirin Champions Conference | Frankfurt, 23 April 2024

1 Talanx has a history of 120 years

Talanx IPO

Gerling

acquisition

Hannover Re

IPO

2012

Foundation

Foundation

Entry retail

reinsurance

2006

as a liability

& fire

business

1994

mutual

1966

1953

1903

2023

  • EUR 1.5bn net income

3

Quirin Champions Conference | Frankfurt, 23 April 2024

1 Talanx operates a multi-brand business with 4 segments and …

TOP 6

insurance provider in Europe1

Industrial

Retail

Retail

Reinsurance

Lines

Germany

International

~75%

in hard B2B markets

More than

175 countries

~ 28,000

employees worldwide

1 Based on insurance revenue; source: company publications, as of 3 April 2024

4

Quirin Champions Conference | Frankfurt, 23 April 2024

1 … a well-balanced business with a low risk profile

Underwriting

Insurance revenue, 2023, in EURbn

LatAm

10%

APAC

North

13%

America

Others

1%

29%

43

EURbn

31%

15%

Rest of

Europe

Germany

Investments

Investment portfolio as of 31 Dec 2023, in EURbn

Fixed-income securities

81%

135

EURbn

17%

1%Others Equities

Solvency

Solvency 2 CAR for HDI Group as of 30 Sep 2023

S2 CAR as of

31 Dec 2023

to be published on

7 May 2024 (AGM)

222%

Ratings

Insurer financial strength rating (Talanx Primary Group)

A+

(outlook: stable)

A+

(outlook: stable)

Strong

Low

diversification

investment risk

Solid

capitalisation

Strong ratings

5 Quirin Champions Conference | Frankfurt, 23 April 2024

Agenda

1 Talanx at a glance

2 Group highlights

3 Segment highlights and outlook

4 Group outlook

5 Appendix

6 Quirin Champions Conference | Frankfurt, 23 April 2024

2 2023 - Another record year …

Record result

High quality earnings

Increased dividend

Net income

Resiliency2

Dividend per share4

in EURm

in EURm

in EUR

1,5811

> 3,5003

2.35

Ahead of schedule for 2025 strategic targets

1 IFRS 4 2022: EUR 1,172m (2023 vs. 2022: + 35%); IFRS 17 2022: EUR 706m, no meaningful base for comparison given different treatment of management actions taken in 2022 under IFRS 4 accounting regime | 2 Estimates per the end of 2023 financial year (external expert assessment to be published with Q1 2024 results on 15 May 2024). Resiliency defined as the difference between booked reserves (based on Talanx' own best estimates) and external expert analysis |

3 Undiscounted; 31 Dec 2022: EUR 2,648m | 4 Dividend for 2023 to be paid in 2024, subject to AGM approval

7 Quirin Champions Conference | Frankfurt, 23 April 2024

2 … with strong Primary Insurance performance …

Industrial Lines

Retail International

Retail Germany

Combined ratio

91.5 %

in LatAm

2

Return on equity

11 %

Underwriting champion

Top player in LatAm

Stable profit contributor

8 Quirin Champions Conference | Frankfurt, 23 April 2024

2 A promise is a promise - Outlook 2023 outperformed …

Insurance

Group

Return

revenue

net income

on equity

in EURbn

in EURm

> 42

43.21

Outlook 2023

2023

1,581

~ 1,4002

Outlook 2023

2023

16.6%

> 10%3

Outlook 2023

2023

1 Insurance revenue growth 2023 versus 2022: +9% (currency-adjusted: +12%) | 2 Initial guidance as communicated with 2022 results; was lifted to >1,400 with 6M 2023 results and lifted to >1,500 with 9M 2023 results 3 Initial guidance as communicated with 2022 results; was lifted to >> 10% with 6M 2023 results

9 Quirin Champions Conference | Frankfurt, 23 April 2024

2 … supported by favorable level of large losses…

Net large losses in relative terms

For 2012 - 2021 IFRS 4, in % of net premiums earned (P/C business only)

NatCat

Corona losses (P/C business only)

For 2022 and 2023 IFRS 17, in % of insurance revenues (P/C business only)

Man-made

Ukraine war

10.0%

9.8%

2.4%

Ø 7.0

6.8%

6.1%

6.4%

6.1%

6.8%

6.4%

5.4%

6.9%

6.8%

6.2%

1.9%

5.1%

2.2%

2.8%

1.6%

2.6%

0.9%

1.3%

2.8%

4.0%

4.5%

7.6%

1.4%

3.8%

4.6%

3.3%

4.0%

3.8%

5.0%

4.8%

4.6%

3.0%

2.1%

1.9%

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Note: Definition "large loss": In excess of EUR 10m gross in either Primary Insurance or Reinsurance

Large losses of EUR 2,167m slightly below budget (EUR 2,200m) despite higher NatCat losses (EUR +83m) and higher man-made losses (EUR +277m)

Top 3 largest NatCat losses:

  • Italy storm / hail EUR 354m
  • Türkiye earthquake EUR 315m
  • Mexico hurricane "Otis" EUR 171m

10 Quirin Champions Conference | Frankfurt, 23 April 2024

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Talanx AG published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 22:33:49 UTC.