Hannover Re: 2022 half year results increase

Hannover ReHannover Re has posted a turnover of 17.342 billion EUR (18.19 billion USD) during the first half of 2022, which shows a 19.9% increase compared to the same period in 2021. Non-life premiums stood at 12.922 billion EUR (13.55 billion USD) against 4.42 billion EUR (4.64 billion USD) for the life class of business.

The operating result amounted to 919.3 million EUR (964.25 million USD), decreasing by 3.9% over a year. The net profit has gone from 670.6 million EUR (798.4 million USD) as at 30 June 2021 to 648.7 million EUR (680.42 million USD) one year later, falling by 3.3%.

During the first six months of 2022, the German reinsurer has set up a provision of 316 million EUR (331.45 million USD) for the war between Russia and Ukraine.

For the entire current financial year, Hannover Re expects a net income between 1.4 and 1.5 billion EUR (1.43 and 1.53 billion USD).

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