HDI Global full-year results underpin reliability as U.S. business hits $1bn premium milestone

On a worldwide scale, HDI Global generated clear growth in both revenue and earnings. Insurance revenue rose 10 percent year-on-year to hit the milestone of EUR 10.0 (FY 2023: 9.1) billion for the first time; the growth percentage after adjustment for currency effects was 11 percent. The main drivers for this success were growth in new business and partly inflation-related price adjustments in existing business. The insurance service result increased to EUR 1,004 (770) million on the back of an improved loss ratio for frequency losses. Large loss payments rose year-on-year to EUR 402 (334) million but were below the budgeted figure of EUR 468 million, due to lower man-made-losses.

The combined ratio improved to 90.0 (91.5) percent. The net insurance financial and investment result before currency effects rose to EUR 83 (11) million due to higher investment volumes and an increase in current interest income. The positive performance by both underwriting and asset management clearly lifted EBIT to EUR 702 (446) million. RoE rose to 17.6 (14.3) percent, while HDI Global’s contribution to Talanx Group net income rose to EUR 501 (351) million.

Given HDI Global’s strong worldwide results, Clark is optimistic for the current year in the U.S. as well: “As we look to 2025, we are excited about the opportunities to leverage the capabilities from our recently signed Guidewire Policy Center contract. This cutting-edge system will enhance our underwriting efficiency across all lines of business and further align with HDI Global's vision of being a global leader. Despite challenges like tort reform and nuclear verdicts, we remain dedicated to operating as a stable force in the competitive U.S. insurance market. Supported by investments in technology and a global mindset, we continue our journey as a trusted partner, steadfast in delivering value and resilience to our clients and brokers worldwide.”

As a Commercial and Specialty lines insurer, HDI Global SE (HDI) meets the needs of SMEs, industrial companies, middle market and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners. Acting as the Partner in Transformation, HDI Global SE leads roughly 5,300 International Programmes and offers its multinational customers compliant coverage worldwide.

In the United States, HDI Global operates through its three wholly owned subsidiaries, HDI Global Insurance Company, a commercial property and casualty insurer headquartered in Chicago, IL and licensed in all 50 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands, HDI Global Select Insurance Company, a commercial property and casualty insurer licensed in Washington D.C., and in all US states with the exception of Rhode Island, and HDI Specialty Insurance Company, an Illinois domestic surplus lines insurer who provides both primary and excess coverage to specialized industries and is also authorized to write business nationwide.       

HDI Global SE is the Industrial Lines Division of the Talanx Group and has been a leading insurer for several decades. More than 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 10.0 billion in the year 2024 (according to IFRS 17).

The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of AA-/stable ( verystrong) and AM Best has assigned the A+ Rating. Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX.

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