Talanx : expects to exceed the pro-rata large loss budget for the first nine months with additional losses from Hurricane Maria and the earthquake in Mexico

Hannover, 21 September 2017

The Talanx Group has been impacted by the latest natural catastrophes in Central and North America. The burden of losses resulting from Hurricanes Harvey and Irma is likely to be within pro-rata large loss budget. However, it is now becoming apparent that the additional losses arising from Hurricane Maria and the most recent earthquake in Mexico, which cannot as yet be exactly quantified, will exceed the pro-rata large loss budget amounting EUR 818 million for the first nine months of the financial year in the Reinsurance and Industrial Lines divisions. This means that the amount of the large loss budget of EUR 267 million for the two divisions in the fourth quarter is unlikely to be available in full. The extent to which Talanx AG will be able to achieve its profit target of around EUR 850 million for the financial year 2017 depends on the development of the large loss burden up to the end of the year. A dividend payout at least equal to the year-earlier level is assured from today's perspective.