7th August 2022

Hannover Re confirms profit guidance for 2022 with sustained profitable growth in the first half-year

Highlights are:
-Gross premium up by 19.9%
-Major losses in property and casualty reinsurance higher than expected in the first half-year
-Provisions for possible losses from the war in Ukraine totalling altogether E316m
-Lower pandemic-related expenditures in life and health reinsurance
-Return on investment beats target at 3%
-Group net income reaches E649m
-Capital adequacy ratio under Solvency II remains on very high level at 235.1%
-Return on equity clearly above minimum target at 12.4%
-Profit guidance for 2022 confirmed
-Targets for gross premium growth and return on investment raised
"Our consistently strong and profitable growth shows how highly sought-after Hannover Re's reinsurance protection is among our clients during difficult times," said Jean-Jacques Henchoz, ceo. "We delivered a satisfactory result in the first half-year, not least thanks to our superlative risk and capital management. We were able to do this despite setting aside reserves for impacts of the war launched against Ukraine in contravention of international law, despite considerable large loss expenditures and despite further pandemic-related payments."
Hannover Re also announced the appointment of Sharon Ooi to the Executive Board to oversee Property & Casualty Expansion in Asia-Pacific.

Hannover Re Trends(224 articles)

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