Insurers: Hannover Re Increases Profit and Holds Annual Target

Handelsblatt

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The reinsurer can expand its net profit to 1.4 billion euros in the first half of the year, while Rival Münchener Rück is drawing less business and cutting its forecast.

Herbert Frommes Versicherungsmonitor

Factuality

Ownership

The reinsurer Hannover Re lost sales in the first half of the year, but increased its profit to EUR 1.4 billion. Despite lower prices, the company maintains its growth targets in the traditional claims business. Chief Financial Officer Christian Hermelingmeier sees Hannover Re on track for its annual targets© Hannover Re Hannover Re lost business in the first half of the year. Reinsurance sales decreased by 3.1 percent to EUR 12.9 billion. [...]

Versicherungswirtschaft-heute

Factuality

Ownership

Hannover Re has increased its profit by seven percent to EUR 1.4 billion in the first half of the year and remains committed to earning at least EUR 2.7 billion in the full year. The fact that the prices for the latest contract renewals in non-life reinsurance fell again on 1 June and 1 July is not a major concern for Chief Financial Officer Christian Hermelingmeier. "The market is becoming softer, but we are not in a soft market," he said at a …