Record high profits for Hannover Re in 2016

Hannover Re posted a pre-tax profit of 1.17 billion EUR (1.23 billion USD) that is 1.8% more than in 2015. This figure stands as a record for the fifth year in a row.

The performance achieved in 2016 is all the more remarkable that the level of natural catastrophes attained the highest level in five years and that tariff environment remained “soft”.

Another satisfaction is the combined ratio of 93.7% in 2016 which grew by 0.7 point. This soft environment has unfortunately strained the turnover which amounted to 16.4 billion EUR (17.28 billion USD), a 4.2% decrease in comparison with 2015.

Finally, return on equity slightly declined at 13.7% in 2016 compared to 14.7% in 2015.

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