Reuters logo
Talanx slashes 2017 profit target on hurricanes, Mexico quake
October 27, 2017 / 5:48 AM / 24 days ago

Talanx slashes 2017 profit target on hurricanes, Mexico quake

FRANKFURT, Oct 27 (Reuters) - German insurer Talanx slashed its 2017 net profit target to around 650 million euros ($756 million) from 850 million euros, citing losses from hurricanes Harvey, Irma and Maria and an earthquake in Mexico.

It said on Friday it expected to post a net loss of around 20 million euros for the third quarter through September.

The group had already warned last month that it may miss its profit target as its reinsurer Hannover Re is being hit by major claims. ($1 = 0.8596 euros) (Reporting by Maria Sheahan; Editing by Stephen Coates)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below