Talanx profit tops Q1 forecasts despite cat losses

Operating profit at German carrier Talanx held steady in the
first quarter at EUR576mn ($629.4mn) despite higher large-loss
catastrophe activity.
In a statement released this morning the majority owner of Hannover
Re said operating profit edged up 0.5 percent year-on-year. The
result was 3.4 percent higher than the figure predicted by Baader
Helvea's Daniel Bischof and 4.5 percent above the consensus,
the analyst noted.
Talanx said the impact of large loss activity rose 24.4 percent to
EUR153mn