January 14, 2013 / 1:20 PM / 6 years ago

Talanx had 306 mln eur net hit from storm Sandy

FRANKFURT, Jan 14 (Reuters) - German insurer Talanx AG said it expected its net damage claims from superstorm Sandy in the United States last year to total 306 million euros ($408 million), including the hit to its reinsurance arm Hannover Re.

“Due to the very moderate occurrence of major losses in 2012, Talanx Group’s budget for claims of this kind is sufficient,” Talanx said in a statement, adding that the effect of storm claims from Sandy on Talanx’s full-year results remained in line with expectations.

Hannover Re earlier on Monday stuck to its 2012 guidance of earning net income of more than 800 million euros, despite the Sandy hit.

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