Hannover Re pronounces interim financials

Hannover Re has revealed 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 yr, €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 very good end result and are thus nonetheless on monitor to attain our year-end targets. Within the current renewals we have been additionally in a position to safe additional – generally considerable – enhancements in costs and circumstances, as mirrored in one other enhance within the new enterprise worth.

“A selective underwriting method stays the order of the day for us, partially as a result of expertise reveals that the extra eventful months of the yr are nonetheless forward of us. This prudence is precisely what units us aside as a financially sturdy 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 concentrate on 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 yr and obtain the objectives we’ve set,” he mentioned.

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