(RTTNews) – German re-insurer Hannover Re (HVRRY.PK, HVRRF.PK) reported Thursday its preliminary fiscal 2024 outcomes, reporting greater Group web revenue than final 12 months, in keeping with expectations. Trying forward, for fiscal 2025, Hannover Re continues to anticipate Group web revenue of round 2.4 billion euros.
For the 12 months, Group web revenue elevated to 2.3 billion euros from 1.8 billion euros a 12 months in the past.
The working revenue or EBIT amounted to three.3 billion euros, up from 1.97 billion euros final 12 months. Property and casualty reinsurance contributed 2.4 billion euros, up from 1.1 billion euros final 12 months.
Hannover Re generated reinsurance income of 26.4 billion euros, greater than prior 12 months’s 24.5 billion euros.
Hannover Re mentioned it elevated the premium revenue in conventional property and casualty reinsurance by 7.6% within the treaty renewals as at January 1, 2025.
Jean-Jacques Henchoz, Chief Govt Officer of Hannover Re, mentioned, “Demand for high-quality reinsurance capacities was as soon as once more greater than within the earlier 12 months. … Looking forward to our targets for 2025, the profitable renewals in January give me grounds for optimism. Progress in conventional enterprise in addition to the double-digit enhance in structured reinsurance shall be pivotal to attaining our progress goal for 2025.”
Hannover Re plans to publish its audited annual monetary assertion on March 13.
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