Talanx with €20 mln loss in Q3 due to natural disasters in Americas

WSE-listed insurance group Talanx expects a €20 million loss in Q3, due to the damage caused by hurricanes Harvey, Irma and Maria in the Americas, as well as the earthquake in Mexico. The liabilities resulting from reinsurance and retrocession the company incurred as a result of the hurricanes and the earthquake will exceed €1.2 billion, the company stated. Talanx plans to offset some of its losses with returns on its own capital investments, which the company has estimated at 7.5 percent this year. The German insurance group owns several Polish insurers, including TUnŻ Warta and TU Europa. It has been listed on WSE since 2014.