Magazine date:
Apr 2010 After having sustained losses in 2008, Hannover Re has announced a profit of 731 million EUR (1.047 billion USD) for 2009. This good performance is owed to the clemency of natural events, to the 26% increase of the written premiums and to the takeover of ING's life reinsurance portfolio. Despite the start of 2010 marked by the earthquake in Chile, estimated at 185 million EUR (252.6 million USD) for the German reinsurer's share , and by the European storm Xynthia which could cost it 40 million EUR (54.6 million USD), Hannover Re is expecting a good 2010 year.