HDI Global's Q1 net income rises to $112m

Thanks to inflation-related price changes and new business in property.

HDI Global’s first quarter (Q124) net income grew half of last year’s €69m ($74.52m) to €104m ($112.32m), whilst insurance revenue climbed 9.5% to €2.3b ($2.484b). 

This growth was driven by inflation-related price adjustments and new business in property, liability, and specialty insurance. The combined ratio improved by 1.4 percentage points to 91.8% compared to the same period last year. 

The company’s operating profit increased to €140m ($151.2m). 

“Our performance in the first quarter lays the foundation for a successful year, because only when we as HDI Global maintain a strong financial position, we are able to provide top quality service and absolute dependability for our clients and broker partners.” Dr. Edgar Puls, CEO of HDI Global SE, stated in a press release.

The net insurance financial and investment result before currency effects increased to €47m ($50.76m) from €2m ($2.16m), due to higher net returns on investments and fewer realised losses. 

Operating profit (EBIT) rose to €140m ($151.2m), and HDI Global’s contribution to the Talanx Group’s net income increased to €104m ($112.32m).

($1.00 = €0.92)