Talanx Group says preliminary figures show net income last year grew 25% to a record €2.48 billion ($3.5 billion).

“This positive performance was driven by ... strong operating business and a positive claims experience in the second half of the year,” the German insurance group said.

Insurance revenue grew 5% to €49 billion ($69.32 billion) on a currency-adjusted basis.

Talanx says it is on course for net income of €2.7 billion ($3.82 billion) this year, meaning it is “confident of reaching and exceeding [the] 2027 earnings forecast of more than €2.5 billion ($3.53 billion) one year earlier than planned”.