Australia has made a positive contribution to HDI Global’s half-year result and is well placed for further growth, the corporate and specialty insurer says.

The local business has “continued to develop steadily and shown resilience amid evolving market conditions”, Asia-Pacific head and Australia MD Stefan Feldmann says following the release of worldwide results for the Talanx-owned business. 

Germany-based HDI Global’s total operating profit increased to €377 million ($677 million) from €305 million ($548 million) in the corresponding half of last year, and insurance revenue grew to €5.1 billion ($9.2 billion) from €4.8 billion ($8.6 billion).

Large loss payments came in at €142 million ($255 million), up from €128 million ($230 million) but well below the pro-rata budget of €253 million ($454 million).

The combined operating ratio moved to 91.6% from 91.1%.

Mr Feldman says in Australia and New Zealand, the business is poised for further growth this year, particularly in the mid-market segments.

“We are optimistic about enhancing our motor portfolio, focusing on sustainability and active monitoring. Our strategic commitment extends to international programs, where we aim to expand considerably.”

Innovative solutions such as captive fronting and expanding financial lines capabilities position the business to drive growth in complex placements, he says.

Mr Feldmann says the first half benefited from the launch of a primary cyber offering and solid product lines retention

“Our operations remain profitable and on a healthy growth trajectory, reinforcing the strength of our international presence. We have extended our footprint across key regions, with important milestones in Singapore, Hong Kong and Dubai.”

HDI Global CEO Edgar Puls says he is pleased the overall result was driven by the growth of new business.

“The fact that all lines of business contributed to these results underlines the breadth and resilience of our portfolio,” he said.