S&P Global Ratings raises financial strength rating for Talanx Primary Insurance Group to AA-

Upgraded to “AA-” (Very Strong) with stable outlook due to increasing earnings diversification as well as sustainably improved resilience
Financial strength rating now in line with AM Best at second-best rating category

The international rating agency S&P Global Ratings today upgraded the credit ratings of the Talanx Primary Insurance Group and its core primary insurance subsidiaries from “A+” (Strong) to “AA-” (Very Strong).

From the perspective of S&P Global Ratings, the upgrade reflects the consistent strengthening of the balance sheet as well as the ongoing diversification of earnings streams across business lines and regions. In addition to the very successful development of the Corporate & Specialty division, the expansion in Latin America, where the Talanx Group has now become the second-largest property and casualty insurer for private customers following its latest acquisition, also contributed to this.

"We are very pleased about the upgrade by S&P, because in our view this decision confirms the continuous progress of our Group on the way to diversified and sustainable profitability", comments Dr Jan Wicke, CFO of Talanx AG and HDI V.a.G.

The credit rating upgrade affects the following companies in the Talanx Group:

HDI Haftpflichtverband der Deutschen Industrie V.a.G.

Talanx AG

HDI Global Insurance Co.

HDI Global Network AG

HDI Global SE

HDI Global Specialty SE

HDI Lebensversicherung AG

HDI Versicherung AG (Germany)

neue leben Lebensversicherung AG

Towarzystwo Ubezpieczen i Reasekuracji WARTA S.A.

The following entities are of strategical importance for Talanx and hence rated with “A+ (Strong)” one notch below the Group Credit Rating:

HDI Versicherung AG (Austria)

LPV Lebensversicherung AG

TARGO Lebensversicherung AG

HDI Specialty Insurance Co.

Disclaimer

This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.