Hannover Re sees soar in Q1 web revenue


Hannover Re posts improve in web revenue within the first quarter | Insurance coverage Enterprise America

Figures are the primary set launched below the brand new monetary reporting requirements

insurance coverage information

By Terry Gangcuangco

The Talanx Group’s Hannover Re reveals the way it developed within the first quarter of 2023.

Hannover Re reported for the primary time in accordance with the brand new accounting requirements and achieved the next outcomes:


1st quarter 2023

Q1 2022

Reinsurance income (gross)

6.57 billion euros

6.61 billion euros

End result from reinsurance companies (web)

568 million euros

421 million euros

Web revenue from investments

381 million euros

393 million euros

Working Revenue/Loss

720 million euros

598 million euros

Group Web Earnings

484 million euros

428 million euros

Of Hannover Re’s reinsurance income within the first quarter, 4.6 billion euros got here from non-life reinsurance, whereas life and medical insurance contributed 1.97 billion euros.

“With the results of the primary three months, we’ve got achieved greater than 1 / 4 of the full-year forecast of not less than 1.7 billion euros and are due to this fact proper on monitor,” stated CEO Jean-Jacques Henchoz in a press release.

“On the identical time, we’ve got additional strengthened our resilience. In view of the present challenges, we stay a dependable associate for our prospects.”

The CEO added: “The April 1 renewal negotiations allowed us to construct on the numerous value and situation enhancements we achieved within the January 1 renewals. Now we have thus laid one other vital cornerstone for securing Hannover Re’s incomes energy in the long run.”

What do you consider Hannover Re’s monetary outcomes? Share your ideas within the feedback under.

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2023-05-12 06:00:00