Hannover Re declares interim outcomes

Hannover Re has printed its monetary outcomes for the second quarter and first half of 2023.

Right here’s how the reinsurer carried out within the three and 6 months ended June 30:

Of the group’s working revenue within the half 12 months, €829 million got here from property & casualty; €525 million from life & well being. Each segments posted a rise – by 28% and 11%, respectively.

Commenting on the numbers, Hannover Re chief government Jean-Jacques Henchoz mentioned in a launch: “We closed the primary half with a superb outcome and are thus nonetheless on monitor to attain our year-end targets. Within the latest renewals we have been additionally capable of safe additional – generally considerable – enhancements in costs and situations, as mirrored in one other improve within the new enterprise worth.

“A selective underwriting method stays the order of the day for us, partly as a result of expertise exhibits that the extra eventful months of the 12 months are nonetheless forward of us. This prudence is precisely what units us aside as a financially robust and dependable reinsurance accomplice.”

Henchoz added that the rising losses from pure disasters and persistently excessive inflation in some areas are driving stronger demand for reinsurance safety.

“With our deal with the long-term profitability of our portfolio, I stay optimistic – regardless of all of the challenges – that we will maintain the constructive improvement of Hannover Re’s enterprise within the second half of the 12 months and obtain the objectives now we have set,” he mentioned.

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