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HomeInsuranceHannover Re unveils half-year outcomes

Hannover Re unveils half-year outcomes










Outcomes

Q2 2022

Q2 2021

H1 2022

H1 2021

Gross written premium

€8 billion

€6.7 billion

€17.3 billion

€14.5 billion

Internet underwriting end result

€62.2 million

€98.9 million

€(39.8 million)

€124.3 million

Internet funding earnings

€496.1 million

€424.7 million

€980 million

€865.8 million

Working revenue

€522.9 million

€552.3 million

€919.3 million

€956.1 million

Group internet earnings

€385.1 million

€364.7 million

€648.7 million

€670.6 million

 

“Our persistently robust and worthwhile progress exhibits how extremely sought-after Hannover Re’s reinsurance safety is amongst our shoppers throughout troublesome instances,” commented Henchoz. “We delivered a passable end result within the first half-year, not least due to our superlative threat and capital administration.

“We have been in a position to do that regardless of setting apart reserves for impacts of the struggle launched in opposition to Ukraine in contravention of worldwide regulation, regardless of appreciable giant loss expenditures, and regardless of additional pandemic-related funds.”

Hannover Re, below its property and casualty reinsurance enterprise, has established a €316 million reserve for attainable losses from the struggle in Ukraine. This drove the corporate’s internet expenditure for giant losses in H1 to succeed in €850 million – a better than anticipated determine for the interval and a rise from final 12 months’s €326 million. 

Beneath life and well being, in the meantime, Hannover Re incurred €194 million in pandemic-related losses within the first half. The sum represents a decline from €263 million in H1 2021.

Henchoz added: “Our success is grounded on our appreciable underwriting self-discipline, the fee effectivity of our enterprise mannequin, and our agile capital administration. On this foundation we’re ideally positioned to sort out the quite a few challenges in our market.

“Towards this backdrop, and due to our robust buyer relationships, I’m assured that we are going to obtain our bold objectives for 2022. With the end result for the primary six months, we’ve got laid important groundwork to this finish.”

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