HDI Global’s net financial result rises to $76m in H1 2024

Thanks to higher investment volumes and increased interest income. 

HDI Global’s first half (H1 2024) operating profit (EBIT) grew significantly to $338.55m (EUR305m), with HDI Global contributing $247.53m (EUR223m) to Talanx Group's net income.

Its net insurance financial and investment result rose to $75.48m (EUR68m) due to higher investment volumes and increased interest income. 

The positive performance was primarily driven by the expansion of new business and inflation-related price adjustments, particularly in Property, Liability, and Specialty insurance lines.

HDI Global's Singapore branch also delivered strong results across all business lines.

“All lines and our growing International Programmes capabilities are performing well. We have welcomed the support from the market for these. Also, our newest Political and Credit risk product has been well received across the region,” says Alex Tarantino, managing director and principal officer of HDI Global Singapore.

Additionally, HDI Global saw a 14% year-on-year increase in insurance revenue, reaching $5.33b (EUR4.8b) in H1 2024. 

The insurance service result surged by 47% to $476.19m (EUR429m), driven by an improved loss ratio for frequency losses. Large loss payments were lower than expected, and the combined ratio improved to 91.1%. 

($1.00 = EUR0.90)