Talanx is on track to record a €774 million ($1.27 billion) profit for the first quarter, up 28% on the same period last year and ahead of analysts’ forecasts.

The German insurer will report its Q1 results on May 13 but last week issued preliminary guidance saying it expects insurance revenue of €12.1 billion ($19.8 billion), up 3%.

Talanx has also confirmed its forecast of a €2.7 billion ($4.4 billion) full-year profit.