Talanx P&C re Q2 profit falls 34% to EUR309mn amid Ukraine impact
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Talanx P&C re Q2 profit falls 34% to EUR309mn amid Ukraine impact

Aisling Finn
10 August 2022
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Talanx’s P&C reinsurance division booked a Q2 operating profit of EUR309mn ($315mn), down 34% compared to the same period last year, as reserves increased largely for the conflict in Ukraine and last year’s drought in Brazil.

The carrier stated in its earnings this morning that it has made incurred-but-not-reported losses of EUR316mn at the half-year point in its reinsurance division for the Ukraine conflict, as well as a EUR130mn reserve for the drought in Brazil....

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