Hannover Re unveils its results for the first quarter of 2017

Hannover Re achieved a net result of 264.8 million EUR (284.3 million USD) in the first quarter of 2017, a decrease of 2.4% compared with 271.2 million EUR(306.8 million USD) in the same period of 2016. Gross written premiums, however, increased by 6.6% at 4.5 billion EUR (4.8 billion USD).

The combined ratio deteriorated by 0.9 point from 94.7% to 95.6%. This rise in loss experience is particularly due to hurricane Debbie, which struck Northeast Australia in March 2017.

Follwoing these results, the German reinsurer expresses his satisfaction and confidence regarding the achievement of his objectives. Hannover Re hopes to attain a net result of 1 billion EUR (1.07 billion USD) by the end of 2017.

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