FRANKFURT, May 13 German insurer Talanx posted a smaller than expected drop in first quarter net profit, helped by low damage claims and a surprise rise in income from investments.
Germany’s third-biggest insurance group affirmed 
its full-year earnings goal after quarterly net profit fell to 222 million euros ($252 million) from 251 million a year earlier, beating the highest forecast of 202 million euros in a Reuters poll.
Speaking to shareholders at their annual meeting this week, Talanx Chief Executive Herbert Haas said the result of the first four months of the year made him confident of reaching the insurer’s target of 750 million euros in net profit in 2016. “We are well on course,” Haas said in a statement on Friday.
JP Morgan analyst Michael Huttner said the insurer was on track to beat its official profit goal.
Continue Reading “UPDATE 1-Talanx net profit falls by less than expected in Q1” at Reuters News
