Talanx:

Sustainable profitability

Post FY 2023 results roadshow | San Francisco, 15 April 2024

Agenda

1 Talanx at glance

2 Highlights

3 CFO Deep-Dive

4 Capital management

5 Segments

6 Group outlook

7 Appendix

2 Post FY 2023 results roadshow | San Francisco, 15 April 2024

1 Talanx has a history of 120 years

Talanx IPO

Gerling

acquisition

Hannover Re

IPO

2012

Foundation

Foundation

Entry retail

reinsurance

2006

as a liability

& fire

business

1994

mutual

1966

1953

1903

2023

  • EUR 1.5bn net income

3 Post FY 2023 results roadshow | San Francisco, 15 April 2024

1 Talanx operates a multi-brand business with 4 segments and …

Headquartered in

Hannover

Industrial

Retail

Retail

Reinsurance

Lines

Germany

International

More than

175 countries

~ 28,000

employees worldwide

TOP 6

largest insurance provider in Europe1

1 Insurance revenue; Source: Company publications, as at 03 April 2024

4 Post FY 2023 results roadshow | San Francisco, 15 April 2024

1 … a well-balanced business with a low risk profile

Underwriting

Insurance revenue, 2023, in EURbn

LatAm

10%

APAC

North

13%

America

Others

1%

29%

43

EURbn

31%

15%

Rest of

Europe

Germany

Investments

Investment portfolio as of 31 Dec 2023, in EURbn

Fixed-income securities

81%

135

EURbn

17%

1%Others Equities

Solvency

Solvency 2 CAR for HDI Group as of 31 Dec 2023

S2 CAR (exact number)

as of 31 Dec 2023 to be published on

7 May 2024 (AGM)

>200%

Ratings

Insurer financial strength rating (Talanx Primary Group)

A+

(outlook: stable)

A+

(outlook: stable)

Strong

Low

diversification

investment risk

Solid

capitalisation

Strong ratings

5 Post FY 2023 results roadshow | San Francisco, 15 April 2024

Agenda

1 Talanx at glance

2 Highlights

3 CFO Deep-Dive

4 Capital management

5 Segments

6 Group outlook

7 Appendix

6 Post FY 2023 results roadshow | San Francisco, 15 April 2024

2 2023 - Another record year …

Record result

High quality earnings

Increased dividend

Net income

Resiliency2

Dividend per share4

in EURm

in EURm

in EUR

1,5811

> 3,5003

2.35

Ahead of schedule for 2025 strategic targets

1 IFRS 4 2022: EUR 1,172m (2023 vs. 2022: + 35%); IFRS 17 2022: EUR 706m, no meaningful base for comparison given different treatment of management actions taken in 2022 under IFRS 4 accounting regime | 2 Estimates per the end of 2023 financial year (external expert assessment to be published with Q1 2024 results on 15 May 2024). Resiliency defined as the difference between booked reserves (based on Talanx' own best estimates) and external expert analysis |

3 Undiscounted; 31 Dec 2022: EUR 2,648m | 4 Dividend for 2023 to be paid in 2024, subject to AGM approval

7 Post FY 2023 results roadshow | San Francisco, 15 April 2024

2 … with strong Primary Insurance performance …

Industrial Lines

Retail International

Retail Germany

Combined ratio

91.5 %

in LatAm

2

Return on equity

11 %

Underwriting champion

Top player in LatAm

Stable profit contributor

8 Post FY 2023 results roadshow | San Francisco, 15 April 2024

2 … and a well diversified business with a strong B2B focus

Insurance revenue mix

Diversification

Type of business

Germany

Retail2

Rest of World ~85 %

B2B1

~75 %

~85 % outside Germany

~75 % in hard B2B1 markets

Note: Percentages are calculated in percent of Group insurance revenue, adjusted for Corporate Operations and Consolidation

1 B2B: Industrial Lines (~20%) and Reinsurance (~55%) | 2 Retail: Retail International (~17%) and Retail Germany (~8%)

9 Post FY 2023 results roadshow | San Francisco, 15 April 2024

2 A promise is a promise - Outlook 2023 outperformed …

Insurance

Group

Return

revenue

net income

on equity

in EURbn

in EURm

> 42

43.21

Outlook 2023

2023

1,581

~ 1,4002

Outlook 2023

2023

16.6%

> 10%3

Outlook 2023

2023

1 Insurance revenue growth 2023 versus 2022: +9% (currency-adjusted: +12%) | 2 Initial guidance as communicated with 2022 results; was lifted to >1,400 with 6M 2023 results and lifted to >1,500 with 9M 2023 results 3 Initial guidance as communicated with 2022 results; was lifted to >> 10% with 6M 2023 results

10 Post FY 2023 results roadshow | San Francisco, 15 April 2024

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Disclaimer

Talanx AG published this content on 15 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 22:33:49 UTC.