talanx group annual report 2011 en

116
The Talanx Group Strategy Enterprise
management
The Strategic orientation of our Group segments at a glance:
Group segment Our mission and strategic tasks
Industrial Lines Growth on international markets
Development into a global player
Talanx Group. Annual Report 2011
Research and
development
Markets and
general conditions
Retail Germany Expansion of market shares with a view to improving profitability
Elimination of cost disadvantages
Establishment of clear and simple organisational structures
Closer client focus
Retail International Growth in strategic target markets
Optimisation of activities in existing markets
Business
development
Non-Life Reinsurance To become one of the world’s most profitable non-life reinsurers
Correct and accurate assessment of risks
Technically founded pricing and contract terms and an adequate level of reserving
Life/Health Reinsurance To become one of the three largest globally operating Life/Health reinsurers and achieve above-average
profitability within five years
Double-digit growth in volume and profitability indicators
Regional and biometric balance of the portfolio
Probable development of the Group
For the Talanx Group on a consolidated basis, we are striving for
organic growth in gross booked premiums on a par with the improvement
rates of the past two years. The Industrial Lines, Retail
International and reinsurance divisions are expected to play a
major part in achieving this aim. Further contributions will be made
by acquisitions such as the already announced purchases of the
Europa Group and Warta in Poland.
Industrial Lines
HDI-Gerling Industrie Versicherung AG is one of the biggest insurers
in Europe and one of the market leaders in Germany, measured in
terms of premium volume. Rising premium income and expanding
international business underline its strong position among the
global competition. This basis allows us to look forward to further
encouraging premium growth. Most of the increase should – in
view of our already high domestic market penetration – be generated
abroad.
We intend to achieve this increase in premium volume in the
Industrial Lines by means of the following activities: we want to
expand our leadership of co-insurers on international insurance
programmes and to build up and upon cooperation arrangements.
A further focus is on further developing innovative, complex insurance
solutions, e.g. in the fields of renewable energy resources and
pioneer technologies. In addition, we intend to exploit all sales
potentials via cross-selling to further boost premium income. We
are expecting longterm pressure on premiums as a result of essen-
Assets and
financial position
tially constant demand for cover in times of increasing insurance
capacities. In the motor line of business, by contrast, historically
low premium levels lead us to expect a moderate increase in rates.
In the fire line, high claims due to natural catastrophes in the year
under review will probably lead to rate increases in some markets.
In the current market situation, meticulous underwriting and risk
management are essential. Building upon the good capital base of
our Industrial Lines segment, one of our strategic aims is to successively
increase our retentions in the coming years so as to profit
super-proportionally from premium growth.
As in previous years, the best opportunities for growth are in our
opinion to be found outside of Germany. For this reason, we intend
to reinforce our efforts as a global player in 2012 and 2013. With the
Dutch company Nassau Verzekering Maatschappij N. V., Rotterdam,
incorporated for the first time in the second quarter of 2011, which
focuses as an established niche insurer on special lines of business
such as professional liability, D&O insurance and crisis management
as a service, we want to consistently pursue our defined
objectives. Europe-wide we are striving to expand our industrial
lines in the areas of local business, small and medium enterprises,
and international insurance programmes. Our target regions
outside of Europe continue to be Latin America, (South-)East Asia
and the Arabian peninsula. Thanks to the expansion of HDI Seguros
Madrid (Spain) into a hub for industrial insurance solutions in Latin
America and our strategic partnership with PVI Holdings, the leading
Vietnamese industrial insurer, we are well on the way. In India
the launch of our joint venture with Magma is scheduled for 2012.
New branches have opened in Canada and are planned for Singapore.
We are also looking into setting up a presence on the Arabian
peninsula.