Hannover Re, 2014 net result in increase

The moderate level of natural catastrophes’ compensation in 2014 allowed Hannover Re to complete the year with better than expected performance.

The third global reinsurer achieved a net result of 1.2 billion USD, up by 10.1% compared to 2013. This figure is higher than 197 million USD in mid-term estimates of the German reinsurer. Premiums collected in 2014 gained 2.9% at 17.5 billion USD.

However, the year 2015 looks less successful. The group expects net profit down by 11% at 1.06 billion USD. This figure implies maintaining premiums at the level reached in 2014.

NB: growth rate calculated in local currency