By Maitane Sardon
Talanx on Monday confirmed its financial targets for the year after posting an increase in revenue and net income in the first half.
The German insurer said group net income grew 21% to 827 million euros ($905.4 million) in the first half, while operating profit jumped by more than 30% to EUR1.96 billion.
Insurance revenue rose on year to EUR20.86 billion from EUR19.16 billion, a figure that has been restated following the adoption of new accounting standards.
The return on equity in the first half was 18.4%, from 15.4% a year earlier, Talanx said, adding that it expects a return on equity for the year well above its 10% target.
The company said it is confident of exceeding both its target of EUR42 billion for insurance revenue and EUR1.4 billion for group net income.
Write to Maitane Sardon at maitane.sardon@wsj.com
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