Hannover Re, increasing result of the first quarter 2018

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Hannover Re achieved a net profit of 273 million EUR (336.4 million USD) in the first quarter of 2018. This increase of 3%, exceeded the forecasts of analysts. During the same period, gross written premiums rose by 17.6%, from 4.5 billion EUR (4.83 billion USD) to 5.3 billion EUR (6.5 billion USD).

The results of the life and health activity are up to the expectations. Underwritings reached 1.8 billion EUR (2.21 billion USD), an increase of 2%. Property and casualty reinsurance recorded a premium increase of 27.1% to reach 3.6 billion EUR (4.4 billion USD) as of March 31, 2018.

For the year 2018, Hannover Re is expecting a 10% growth in its turnover of 10% and a net profit above 1 billion EUR (1.23 billion USD).

More news on: German insurance industry

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Thu, 10/05/2018 - 16:50
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