HDI Global SE has reported a significant milestone, with its insurance revenue reaching $10.8 billion (€10 billion), marking a 10% year-on-year (YoY) growth. This is the company’s first time achieving this level of revenue.
Earnings before interest and taxes (EBIT) also saw an increase, rising to $758.16 million (€702 million). The company’s return on equity (RoE) surged to 17.6%, up from 14.3% in the previous year.
In addition, HDI Global’s contribution to Talanx Group’s net income rose significantly, reaching $541.08 million (€501 million), compared to $379.08 million (€351 million) in the prior period. After adjusting for currency fluctuations, the company’s revenue growth stands at 11%.
The company also saw an improvement in its insurance service result, which increased to $1.084 billion (€1.004 billion), driven by a better loss ratio for frequency losses. However, large loss payments were up to $434.16 million (€402 million), though they remained under the projected budget of $505.44 million (€468 million), thanks to fewer man-made losses. On the other hand, natural catastrophe losses exceeded the budget, aligning with the ongoing trend of rising claims in this sector.
A key contributor to HDI Global’s positive performance was its Singapore branch, which has focused on expanding its services and offering a comprehensive range of products to local clients.
Alex Tarantino, Managing Director and Principal Officer of HDI Global Singapore, highlighted the company’s strategic growth in the Asia-Pacific (APAC) region. He pointed to the establishment of the Energy Hub, designed to support clients transitioning to renewable energy, along with the introduction of new products such as Political Risk insurance. The company also opened a new office in Dubai within the Dubai International Financial Centre (DIFC) to enhance proximity to clients.
HDI Global has also strengthened its International Programme capabilities in APAC, now managing 30 international programmes to assist clients with regional regulatory challenges.
Looking ahead to 2025, Tarantino expects continued growth in Singapore and across the broader APAC market, driven by rising demand for risk coverage. He underscored the expansion of the Energy Hub, the introduction of new product lines, and the company’s strong position in the Property and Engineering portfolio.
The insurer is also focused on growing its presence in Malaysia, Thailand, and Indonesia while further developing its International Programme and Alternative Risk Transfer services.
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