Monday, August 15th, 2022

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 outcome

€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 sturdy and worthwhile progress exhibits how extremely sought-after Hannover Re’s reinsurance safety is amongst our shoppers throughout tough occasions,” commented Henchoz. “We delivered a passable outcome within the first half-year, not least because of our superlative danger and capital administration.

“We had been in a position to do that regardless of setting apart reserves for impacts of the conflict launched in opposition to Ukraine in contravention of worldwide regulation, regardless of appreciable massive 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 doable losses from the conflict in Ukraine. This drove the corporate’s internet expenditure for big losses in H1 to achieve €850 million – the next than anticipated determine for the interval and a rise from final yr’s €326 million. 

Underneath 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 associated fee effectivity of our enterprise mannequin, and our agile capital administration. On this foundation we’re ideally positioned to deal with the quite a few challenges in our market.

“In opposition to this backdrop, and due to our sturdy buyer relationships, I’m assured that we’ll obtain our formidable targets for 2022. With the outcome for the primary six months, we’ve laid important groundwork to this finish.”



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