Hannover Re: 2022 quarterly results

Hannover Re has recorded a 19.5% turnover increase in the first quarter of 2022 reaching 9.3 billion EUR (10.35 billion USD). Non-life premiums totaled 7.1 billion EUR (7.9 billion USD) against 2.2 billion EUR (2.45 billion USD) for the life class of business.

As at 31 March 2022, the German reinsurer has posted a net profit of 264 million EUR (293.985 million USD), which is a 13.8% drop compared to the 306 million EUR (359.174 million USD) recorded during the same period in 2021. The operating result stood at 396 million EUR (440.978 million USD), representing a decline of 19.8% year-on-year.

The company's shareholders' equity amounted to 10.7 billion EUR (11.915 billion USD) with a return on equity (ROE) of 9.3%.

For the financial year 2022, Hannover Re is expecting a net result ranging between 1.4 and 1.5 billion EUR (1.48 and 1.58 billion USD).