Talanx books ~EUR150mn IBNR bulk reserves as precaution for Ukraine conflict
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Talanx books ~EUR150mn IBNR bulk reserves as precaution for Ukraine conflict

Aisling Finn
05 May 2022
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Talanx, the parent company of Hannover Re and HDI, has reported an operating profit of EUR630mn ($668mn) in Q1 2022, an increase of 0.7% from the prior-year quarter.

The carrier said a precautionary flat-rate provision in the "low triple-digit-million-euro range" — approximately EUR150mn — was recognised in its P&C reinsurance division for potential losses resulting from the war in the Ukraine.

Notably,

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