Hannover Re sees enhance in Q1 web revenue


Hannover Re sees enhance in Q1 web revenue | Insurance coverage Enterprise America

Figures the primary set launched underneath new monetary reporting requirements

Hannover Re sees increase in Q1 net income

Insurance coverage Information

Terry Gangcuangco

It’s the flip of Talanx Group’s Hannover Re to disclose the way it carried out within the first quarter of 2023.

Reporting for the primary time utilizing the brand new monetary reporting requirements, Hannover Re posted the next outcomes:


Q1 2023

Q1 2022

Reinsurance income (gross)

€6.57 billion

€6.61 billion

Reinsurance service outcome (web)

€568 million

€421 million

Web revenue from investments

€381 million

€393 million

Working revenue/loss

€720 million

€598 million

Group web revenue

€484 million

€428 million


Of Hannover Re’s reinsurance income within the first quarter, €4.6 billion got here from property & casualty reinsurance whereas life & well being contributed €1.97 billion.

“With the outcome for the primary three months, now we have achieved greater than 1 / 4 of the full-year steerage of at the least €1.7 billion and are thus very a lot heading in the right direction,” chief govt Jean-Jacques Henchoz stated in a launch.

“On the similar time, now we have additional strengthened our resilience. Within the face of the present challenges, we’re thereby remaining a dependable associate for our purchasers.”

The CEO added: “Within the renewal negotiations at April 1 we have been in a position to construct additional on the numerous enhancements in costs and circumstances achieved within the January 1 renewals. We have now thus put in place one other main cornerstone to safe Hannover Re’s long-term profitability.”

What are your ideas on Hannover Re’s monetary outcomes? Share what you suppose within the feedback beneath.

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