HDI Global Delivers Positive H1 2026 Earnings Growth

Net income rose by 7 percent to EUR 292 (H1 2025: 274) million
Combined ratio improved to 90.7 (91.6) percent
Operating profit (EBIT) was stable at EUR 381 (377) million
Corporate & Specialty insurer HDI Global delivered a robust first half of 2026, driven by disciplined underwriting, lower large loss payments, and an increased investment result. The company continued to strengthen its strategic positioning through digital innovation, international growth, and enhanced client and broker support. HDI Global maintains a healthy profitability level and made a significant contribution to the H1 results of Talanx Group.

“The first half of 2026 demonstrated the strength and resilience of HDI Global's business model,” said Dr Edgar Puls, CEO of HDI Global SE. “Strong operational performance and disciplined execution enabled us to further improve our results, underscoring our strategic focus on underwriting excellence. The improvement in our insurance service result, combined ratio, and net income reflects the quality of our portfolio, prudent underwriting, and the commitment of our teams worldwide. We continued to support our clients and broker partners in navigating an increasingly complex risk landscape, underscoring the value of our expertise, financial strength, and long-term reliability.”

HDI Global’s H1 insurance revenue remained stable due to currency effects and disciplined underwriting at EUR 5.0 (5.1) billion. The insurance service result rose 8 percent to EUR 465 (430) million. Large loss payments amounted to EUR 92 (142) million, undershooting the pro rata budget for the period, which was recognised in full, by EUR 209 million. While NatCat losses remained below budget in the first half of the year, significant man-made losses continued across all industries. The combined ratio of HDI Global improved to 90.7 (91.6) percent. The net insurance financial and investment result before currency effects benefited from higher investment volumes and an increase in current interest income, climbing to EUR 169 (99) million. EBIT was stable at EUR 381 (377) million, while the division’s contribution to Group net income rose 7 percent to EUR 292 (274) million.

Dr Puls elaborated: “We enter the second half of the year with confidence in our resilience. Our robust performance in the first six months shows that we are well on track to meet our full-year ambitions, even as hurricane season still lies ahead. As we execute our Xcelerate29 strategy, we are investing in expertise, technology, and international capabilities to serve clients and brokers around the world as their reliable Partner in Transformation. Our new US setup is a key step in this journey, accelerating our services in a strategically important market and creating a strong platform for future growth. My sincere thanks go to our clients, brokers and partners whose trust in our strength makes this progress possible. I also want to thank the HDI Global employees worldwide. Our results reflect a culture of ownership, innovation, and continuous improvement. By combining deep expertise with a strong focus on client and broker needs, our people make a difference every day.”