Talanx reports Q3 profit growth despite Tianjin loss

Talanx today (12 November) reported an 18.8 percent increase in
third quarter group net income to EUR177mn ($190mn), despite
booking a EUR114mn loss from the August explosions in Tianjin.
Gross written premium (GWP) in the quarter grew 11.4 percent on
the previous year to EUR7.53bn.
The increase partially reflected foreign exchange effects,
Talanx said, with constant currency growth of 5 percent.
Operating profit was up 12.1 percent at EUR492mn, having been
boosted by an improved underwriting re