Hannover Re confirms its forecasts for 2014

Hannover Re has confirmed this week its net profit's forecast for 2014.

Despite a 2% decline of the value of its contracts during January renewals, the German reinsurer expressed satisfaction with the level of his new portfolio and confirms aim for a net profit of about 850 million EUR (1.15 billion USD) this year.

2014 should be a "good financial year" for the non-life sector, the main source of income of the group, with interesting prospects for growth on Asia-Pacific, Latin America Central and Eastern Europe markets and for the marine sector.