FRANKFURT, May 11 (Reuters) - German insurer Talanx confirmed on Thursday its 2017 profit target for around 800 million euros ($870 million), a decline from 2016, as it faces fierce competition and low interest rates.
In 2016, Talanx posted group net profit of 907 million, up 24 percent from 2015. The insurer is due to publish its first-quarter earnings on Monday.
Talanx’s Chief Executive Herbert Haas confirmed the profit target in a slide show for shareholders during the company’s annual general meeting in Hanover, Germany.
$1 = 0.9199 euros Reporting by Tom Sims; Editing by Maria Sheahan