Hannover Re posts upbeat results
Hannover Re saw hearty growth in gross written premium and net profit in the second quarter as a capital-hungry insurance world demanded more reinsurance and its investment returns improved.
Second-quarter net profit jumped 50.3% compared with a year earlier, to €202.9 million ($347.1 million), while gross written premium rose 27.8% to €2.59 billion ($4.43 billion).
The company describes the current price level in non-life reinsurance as “good” but notes the need for rate rises in some segments, particularly property catastrophe.
Second-quarter net profit jumped 50.3% compared with a year earlier, to €202.9 million ($347.1 million), while gross written premium rose 27.8% to €2.59 billion ($4.43 billion).
The company describes the current price level in non-life reinsurance as “good” but notes the need for rate rises in some segments, particularly property catastrophe.