HANNOVER (dpa-AFX) - The insurance group Talanx (HDI) expects more profit in the current year after unexpectedly good business. The surplus should now reach "significantly more" than 1.5 billion euros instead of over 1.4 billion, as the MDax-listed group surprisingly announced in Hanover on Monday evening. The news was well received on the stock market: Talanx shares rose 3.2 percent to 59.60 euros in morning trading on Tuesday.

The shares were thus trading around a third more expensive than at the turn of the year. As recently as September 19, however, their price had climbed to a record high of 65.85 euros. However, the Group used this occasion for a capital increase - and thus sent the shares on a downward slide. So far, the share price has only partially recovered from this. The Board of Management's main aim in taking this step was to increase the free float in order to make Talanx shares more tradable and thus more attractive to investors.

After all, Talanx does not actually need the money from the capital increase. The Board of Management now expects a profit of more than 1.25 billion euros for the first nine months of the year alone. The Group owes this primarily to a strong operating result in its primary insurance division, it said in explanation. Talanx plans to publish its final interim results for the first three quarters on Nov. 13, as planned.

Talanx operates as a primary insurer in Germany and large parts of the world with its main brand HDI. The Group also owns a good half of the shares in Hannover Re, the world's third-largest reinsurer./stw/mne/jha/