Talanx

Last updated

Talanx AG
Company type Aktiengesellschaft
FWB:  TLX
SDAX Component
Industry Financial services
Predecessor Gerling-Konzern   OOjs UI icon edit-ltr-progressive.svg
Founded1996;28 years ago (1996)
Headquarters Hanover, Germany
Area served
Worldwide
Products Insurance, Reinsurance, asset management
Revenue€43.6 billion (2020)
€2.4 billion (EBIT) (2020)
€923 million (2020)
Total assets €193 billion (2020)
Number of employees
23,324 (2020)
Parent HDI Haftpflichtverband der Deutschen Industrie  OOjs UI icon edit-ltr-progressive.svg
Subsidiaries Ampega Investment GmbH
CiV Life
Hannover Re
HDI Haftpflichtverband der Deutschen Industrie
neue leben
PB Versicherungen
Posta Biztosító
Talanx Asset Management GmbH
Talanx Immobilien Management GmbH
TARGO Versicherungen
WARTA
Website www.talanx.com

Talanx is a German multinational financial services company headquartered in Hanover, Germany. Its core businesses include reinsurance, insurance and asset management. [1] Talanx is Germany's third-largest insurance group and one of the major European insurance groups by premium income. [1] The group operates in more than 150 countries.

Contents

The Talanx Group operates as a multi-brand provider with a focus on B2B insurance. It Is a constituent of the MDAX, trading index of German mid-cap companies. [2]

Operations

Talanx Group Structure Talanx markenwelt de 1600x958 2019.jpg
Talanx Group Structure

Talanx is headed by Talanx AG, which assumes the functions of a management and financial holding company within the Group but is not itself active in insurance business. The largest majority shareholder of Talanx AG is HDI V.a.G., a mutual insurance company. The operational insurance business is conducted by the Group companies of the Talanx Group.

The Group has tailored its structure to four operating customer segments: The business segments Industrial Insurance, Private and Commercial Lines Germany, Private and Commercial Lines International and Property/Casualty Reinsurance. In addition, the Group is active in asset management, which is anchored in the segment Corporate Functions:

In May 2023, Talanx announced the acquisition of companies from Liberty Mutual. Talanx announced the purchase deal of Liberty Seguros personal and small commercial business in the regions of Brazil, Chile, Ecuador and Colombia, The deal is expected to make Talanx the third-largest insurer in Latin America. [3]

Related Research Articles

<span class="mw-page-title-main">ING Group</span> Dutch multinational banking and financial services corporation

The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the largest banks globally.

<span class="mw-page-title-main">Hannover Re</span>

Hannover Re is a reinsurance company based in Hannover, Germany. It is the third-largest reinsurance group in the world, with a gross premium of around €33 billion. Founded in 1966, Hannover Re transacts all lines of property & casualty and life & health reinsurance and has a network of over 170 subsidiaries, branches and representative offices on all five continents with a total staff of more than 3,000. The Group's German business is written by the subsidiary E+S Rück.

<span class="mw-page-title-main">Zurich Insurance Group</span> Swiss insurance company

Zurich Insurance Group Ltd is a Swiss insurance company, headquartered in Zürich, and the country's largest insurer. As of 2021, the group is the world's 112th largest public company according to Forbes' Global 2000s list, and in 2011, it ranked 94th in Interbrand's top 100 brands.

<span class="mw-page-title-main">Munich Re</span> German reinsurance company

Munich Re Group or Munich Reinsurance Company is a German multinational insurance company based in Munich, Germany. It is the world's largest reinsurer. ERGO, subsidiary of Munich Re, serves as the primary insurance arm of the Group. Munich Re's shares are publicly listed. Munich Re is included in the DAX index at the Frankfurt Stock Exchange, the Euro Stoxx 50, and other indices.

<span class="mw-page-title-main">Public Bank Berhad</span> Bank based in Kuala Lumpur, Malaysia

Public Bank Berhad is a bank based in Kuala Lumpur, Malaysia, offering financial services in Malaysia as well as the Asia-Pacific region.

<span class="mw-page-title-main">Lincoln National Corporation</span> American insurance and investment management company

Lincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.

<span class="mw-page-title-main">Swiss Life</span> Life insurance company based in Zurich, Switzerland

The Swiss Life Group is the largest life insurance company of Switzerland and one of Europe’s leading comprehensive life and pensions and financial services providers, with approximately CHF 255.7 bn of assets under management. Founded in 1857 in Zurich as the Schweizerische Lebensversicherungs und Rentenanstalt cooperative, the company entered the Swiss stock market in 1997 and adopted its current name in 2002. In 2023 the group declared an adjusted profit from operations of CHF 1.50 billion, a 1% increase compared to the previous year. Net profit increased by 8% to CHF 1.11 billion. Swiss Life is one of the twenty companies listed under the Swiss Market Index, as SLHN.

Rolf Gerling is a German billionaire businessman, philanthropist, investor and heir to the Gerling-Konzern. His net worth is estimated at $2.3 billion (2024) by Forbes magazine.

<span class="mw-page-title-main">CashPool</span> German interbank network

CashPool is a cooperation of a multitude of smaller or virtual German private banks, in which they mutually waive ATM usage fees for their customers. It is not an interbank network but uses the pre-existing German ATM or Maestro/Cirrus networks. With more than 3200 ATMs, the cooperating banks' ATM networks form the smallest ATM group in Germany.

Bâloise Holding AG is a Swiss insurance holding company headquartered in Basel. The company employs approximately 9,000 employees across Europe and is the third-largest Swiss all-industry insurance service provider for individuals and businesses.

Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. Established in 1918 as a life insurance company, Sanlam Group has developed into a diversified financial services business. Its five business clusters comprise Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam.

<span class="mw-page-title-main">Union Investment</span> German asset management firm

Union Investment is the investment arm of the DZ Bank Group and part of the cooperative financial services network. It was founded in 1956 and is headquartered in Frankfurt.

<span class="mw-page-title-main">Banca Sella Group</span> Italian private credit institution

Banca Sella Holding S.p.A. is an Italian holding company for the Banca Sella Group. The main company of the group was Banca Sella S.p.A., an Italian bank based in Biella, Piedmont.

<span class="mw-page-title-main">HDFC Life</span> Indian life insurance company

HDFC Life Insurance Company Limited is a long-term life insurance provider headquartered in Mumbai, offering individual and group insurance services. The company was incorporated on 14 August 2000.

Helvetia is an international insurance group that exists since 1858. The group of companies has been organised in a holding structure since 1996. The head office of Helvetia Group is located in St. Gallen, Switzerland.

<span class="mw-page-title-main">Liberty General Insurance</span> Indian Insurance Company

Liberty General Insurance Limited is a private general insurance company headquartered in Mumbai, India. It is a joint venture among US property casualty insurer Liberty Mutual Insurance Group, Indian private investment fund Enam Securities, and Indian industrial conglomerate DP Jindal Group.

<span class="mw-page-title-main">Covéa</span>

Covéa is a French mutual insurance company that covers property, liability and reinsurance businesses headquartered in Paris. It was formed from the merger of three separate French mutual insurance companies Garantie Mutuelle des Fonctionnaires (GMF), Mutuelle d'assurance des artisans de France (MAAF) and Mutuelle du Mans Assurance (MMA).

<span class="mw-page-title-main">VHV Group</span> German insurance and reinsurance company

VHV Group is a German insurance and reinsurance company based in Hanover, specialising in provision non-life and life insurance as well. Its core businesses are all insurance services. Today VHV Group operates primarily in Europe, Middle East and East Asia and especially in Germany, Switzerland, Italy, France, Austria and Turkey. VHV is one of the twenty most important insurance companies in Germany, the leading German insurance company in the construction sector and one of the five major car insurance companies in Germany. Moreover, the VHV Group is the leading risk life insurer in Germany. VHV Group owns a network of subsidiaries, branches and representative offices with a total staff of roughly 4,000, including 2,400 employees in Hanover. Due to the earning power of the VHV-Group and its capitalization level Standard and Poor's raised the rating on A+ Level in April 2017. In 2016 the VHV was able to expand its contractual figures to over 10 million insurance contracts for the first time.

Wüstenrot & Württembergische (W&W) is a German financial services company that offers a range of products and services, including insurance, banking, and investment products. It based in Stuttgart founded in 1999. The Wüstenrot side of the business offers banking services. Württembergische offers insurance. W&W took over Karlsruher Versicherungsgruppe in 2005, thereby becoming one of Germany's top 15 insurance groups.

<span class="mw-page-title-main">Gerling-Konzern</span> German insurance company

The Gerling-Konzern, also known as the Gerling Group, was an internationally operating Cologne-based multi-line insurance company that was taken over in April 2006 by the Hanover-based Talanx Group, brand name HDI Haftpflichtverband der Deutschen Industrie, Germany's third largest insurance group. The group was fully integrated into HDI.

References

  1. 1 2 "Talanx | Talanx. Insurance. Investments". www.talanx.com. Retrieved 10 August 2023.
  2. "Außerplanmäßige Wechsel in DAX, MDAX und SDAX". boerse-frankfurt.de. Börse Frankfurt. 27 October 2021. Retrieved 17 February 2022.
  3. "Talanx acquires Liberty Mutual businesses". www.insurancebusinessmag.com. Retrieved 30 May 2023.