* Sees net profit of slightly more than 600 mln eur in 2012
* Sees dividend of 1.05 eur/shr to 1.10 eur/shr for 2012
* Sees storm Sandy damage claims within budget
* Share up 0.6 pct on Frankfurt stock exchange
(Adds CEO comments)
FRANKFURT, Nov 14 German insurer Talanx
said it expected to post net profit of at least 650
million euros ($826 million) next year, up from slightly more
than 600 million anticipated for 2012.
Germany's third-biggest insurance group, which made its
stock-market debut last month, also said on Wednesday it
expected to pay a dividend for 2012 of between 1.05 euros per
share and 1.10 euros per share.
Strong underwriting and investment income bolstered earnings
in the first nine months, helping to push group net income up
nearly 70 percent to 549 million euros, compared with the same
period last year. Property sales boosted investment income.
"We have moved significantly closer to our goal of
generating half the premium income in primary insurance from
foreign markets," following acquisitions in Poland and Mexico,
Chief Executive Herbert Haas said in a conference call with
journalists, adding the group was planning to consolidate that
Talanx, which owns a 50.2 percent stake in the world's
third-largest reinsurer, Hannover Re, said losses
from superstorm Sandy in the United States were expected to
remain within the group's budget for major damage claims.
Talanx pencilled in a budget of 640 million euros for big
damage claims in 2012, of which 560 million euros is earmarked
for Hannover Re.
Big claims at the reinsurer used only around one third of
that budget in the first nine months.
"There's still a bit of room left," said Haas.
($1 = 0.7867 euros)
(Reporting by Jonathan Gould; Editing by Mark Potter)