Sunday, April 29, 2018

Talanx annual report 2017


Front page of Talanx 2017 annual report

The report in full you can find here, to read my previous annual summary then click on Talanx annual report 2016 and to find out more regarding Talanx then go to analysis of Talanx 2017.

This year we can directly see the dangers of insurance companies. Up until August everything was looking very good for Talanx and they expected to get a wonderful profit by the end of the year but then they were hit with massive claims from Harvey, Irma and Maria as well as two earthquakes in Mexico. Due to these things the year went from being a success to being poor.
In the income statement below we see that they made a nice increase in Gross written premiums from 31 to 33 billion € but the earnings went from 1.6 down to 1.3 billion €. What annoy me the most is that they have started to complain which is only done to divert the blame. Pathetic! So starting with natural disasters, interest rates, US tax regulation, competition as well as BREXIT. I am neither amused nor am I impressed.


Income statement of Talanx 2017


Conclusion: Talanx have become as whining as they previously were in MüRe before I stepped out. Since I have not seen crook behaviour here of talking down the share price before the CEO buys a massive amount of shares I will leave it as it is. I will remain as shareholder but must keep a closer eye on Talanx from now on.

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