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Talanx profit falls on weaker investment
August 14, 2014 / 5:41 AM / 3 years ago

Talanx profit falls on weaker investment

FRANKFURT, Aug 14 (Reuters) - German insurer Talanx’s net profit fell by more than expected in the second quarter, hit by a drop in income earned from investments, while gross premiums rose slightly.

Quarterly net profit fell 19 percent to 165 million euros ($220 million), compared with a 174 million euro average of forecasts in a Reuters poll of banks and brokerages.

Net profit was 204 million euros in the same quarter last year, helped by investment income gains from the sale of shares in insurer Swiss Life.

1 US dollar = 0.7487 euro Reporting by Jonathan Gould; Editing by Maria Sheahan

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