For the Talanx Group, the final chord of the financial crisis sounded as 2009 drew to a close. Challenging market conditions did nothing to prevent Germany’s third-largest insurance group ending the year on a successful note. The Group achieved good results in terms of premium growth, investment income, operating profit (EBIT) and net income. Talanx was thus able to build on the profi tability that it had enjoyed prior to the financial crisis. The involuntary “stress test” imposed by the financial meltdown made one thing clear under real conditions: even a financial disaster sce nario could not shake Talanx’s stable constitution and rock solid capital strength.

The sharp rise in gross premium income derived in particular from a successful life reinsurance transaction in North America: through its acquisition of a sizeable life reinsurance portfolio Hannover Re was able to considerably strengthen its position in the United States. Along with sometimes very appreciable organic growth in international primary insurance, the Group can report further advances with its entry into the Mexican and Indian markets in 2009.