Hannover Re has announced a record profit in 2010

Hannover Re has announced a profit of 748.9 million EUR (992 million USD) for 2010, an increase of 2% compared to 2009. It is the largest profit ever reported in the history of the reinsurer. This figure has been achieved despite the numerous natural catastrophes that have weighed down the results by 661.3 million EUR, (876 million USD).
The profit posted was inflated by an exceptional accounting gain of 112.2 million EUR (148 million USD). Gross premiums have grown by 11.2% reaching 11.4 billion EUR (15.1 billion). Return on equity is estimated at 18.2%, that is, 4.5 billion EUR (5.9 billion USD).

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