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Talanx lifts 2026 profit outlook after record H1 net income
First-half 2026 net income rose 9% year over year to EUR 1.499 billion as the group cut large loss payments and improved its combined ratio.
Talanx Group, a major German financial services and insurance company, reported record-breaking first-half 2026 net income of EUR 1.499 billion, citing profit growth across its divisions. The company said H1 2026 net income increased 9% versus EUR 1.373 billion in the year-ago period, and that Primary Insurance contributed 52% of group net income.
Talanx also detailed underwriting and earnings drivers for the half. Insurance revenue, adjusted for currency effects, rose 3% to EUR 24.3 billion, while the company’s insurance service result increased 15% to EUR 2.9 billion. Large loss payments fell to EUR 942 million in H1 2026 from EUR 1.134 billion a year earlier, and the combined ratio improved to 88.7% compared with 90.7% in H1 2025.
Losses during the period included natural-disaster events, with Winter Storm Fern in the USA and Canada the largest at EUR 132 million. Talanx also pointed to Atlantic storms on the Iberian Peninsula and in Morocco at EUR 127 million, an earthquake in Venezuela at EUR 75 million, and additional thunderstorms and floods in the USA and Canada at EUR 33 million.
With the first half ahead of internal expectations, Talanx raised its full-year outlook. The insurer said it expects 2026 group net income to well exceed its initial target of around EUR 2.7 billion, along with an anticipated return on equity of roughly 19% for 2026. The company added that it recognized reinsurance reserves of EUR 200 million for potential losses related to the Iran war.