Hannover Re goes beyond its forecasts

Despite a difficult environment, the German reinsurer Hannover Re has posted a profit of 600 million EUR (777 million USD) in 2011. This outstanding performance has been achieved despite the record number of the natural catastrophes that affected the group in the previous year. Analysts aimed at profits of 500 million EUR (647 million USD). Hannover Re, renowned for its anticipatory capacity, has parted ways with its Greek loans at the beginning of the crisis, raising thus a capital reserve. In 2010, the company announced a record-high profit of 749 million EUR (992 million USD). Munich Re, the sector’s leader, has announced a profit of 710 million EUR (919 million USD) for 2011.