Talanx with €900 mln consolidated net profit in 2016

WSE-listed insurance group Talanx posted a €900 million net profit in 2016 (vs €734 million in 2015) according to the company's preliminary financial results. “On the one hand, this results from lower than expected large losses in the Group. On the other hand, special tax effects have also contributed to the improvement of the result,” the company wrote in the statement. The company also raised its 2017 forecasts to €800 million net profits from the previous estimate of €750 million. German insurance group owns several Polish insurers, including TUnŻ Warta and TU Europa.