Munich Germany’s third largest insurer Talanx claims to be a three-digit million sum from the North German regional supplier EWE. The listed company there is a co-investor in the French investment company Ardian, which takes over 26 percent of the Oldenburg group.
Ardian had only joined EWE as a new anchor investor at the end of 2019. The company, based in Oldenburg, is Germany’s fifth largest supplier. Insiders had put the value of the entire Ardian share package at 1.4 billion euros. The insurer did not disclose exactly what share Talanx would take over. The company, based in Hanover, plans to expand its involvement in infrastructure investments.
In terms of gross premiums written, Talanx is the third largest German insurance group after Allianz and Munich Re and the sixth largest insurance group in Europe. The most recent annual turnover was 39 billion euros. The insurance industry, which also includes Hannover Re and HDI, is holding its Annual General Meeting on Thursday.
Only two weeks ago, Talanx had cashed in on its outlook for fiscal year 2020 due to the ongoing corona pandemic. From today’s perspective, the previous profit target in a range of more than 900 to 950 million euros is fraught with too much uncertainty to maintain it, the insurer further announced. He wants to pay a dividend of EUR 1.50 per share.
Today, Wednesday, Talanx shares in the SDax, with a gain of around five percent in the early afternoon, are among the stocks with the best daily performance.
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