Hannover Re: 2023 results

Hannover Re has published its annual results for the year 2023 in accordance with IFRS 17 and IFRS 9. Gross reinsurance revenue has improved by 1.8% to 24.5 billion EUR (27 billion USD).

The German reinsurer closed the 2023 financial year with a net profit of 1.8 billion EUR (2 billion USD), against 800 million EUR (854 million USD) at the end of 2022. The operating result increased by 34% to 2 billion EUR (2.2 billion USD).

During the reporting period, the company's equity amounted to 10.1 billion EUR (11.1 billion USD). Return on equity (ROE) stood at 19%.

The company's Board of Directors will propose the distribution of a 7.2 EUR (7.9 USD) dividend per share at the nex General Meeting.

Hannover Re is expecting a net profit of 2.1 billion EUR (2.3 billion USD) for the year 2024.