HANNOVER (dpa-AFX) - The insurance group Talanx (HDI) wants to increase the proportion of its shares in free float with a capital increase. A capital increase of up to 300 million euros is planned, the MDax-listed company announced in Hanover on Tuesday evening.

The money would also increase the company's capital resources for further acquisitions and business growth from its own resources. In addition, Talanx majority shareholder HDI, a mutual insurance company, intends to offer its own shares worth up to 100 million euros for sale, it said. After completion of the transaction, around 23.2 percent of the shares are to be in free float. So far, 21.1 percent are in free float, the remaining 78.9 percent are held by HDI. Talanx intends to place the new shares exclusively with institutional investors. Existing shareholders are not to be granted subscription rights.

At the same time, the Group confirmed its business forecasts. For the current year, management continues to target a net profit of more than 1.4 billion euros and intends to distribute a dividend of more than 2 euros per share to shareholders. By 2025, profits are expected to rise to 1.6 billion euros. This does not yet include the positive effects from the acquisition of Liberty Mutual's business in Latin America, it said./stw/jha/