The world’s third-largest reinsurer Hannover Re sees itself on track for record profits this year despite several expensive natural disasters in the summer.
In the third quarter, the DAX group earned a good 439 million euros, almost one and a half times as much as a year earlier, as it announced on Thursday in Hanover. CEO Jean-Jacques Henchoz therefore sees Hannover Re as continuing to be well positioned to earn at least 1.7 billion euros for the year as a whole. After the first nine months there is a surplus of 1.4 billion euros in the books.
In the third quarter, the group was particularly affected by the severe storms in northern Italy, amounting to 132 million euros. The destruction caused by the forest fires on the Hawaiian island of Maui cost the reinsurer 87 million euros. Like other large insurers, Hannover Re has been calculating its business figures according to new accounting standards since this year. The previous year’s figures were adjusted accordingly.
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HANOVER (dpa-AFX)
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