Hannover Rueck SE: Achieving Full-Year Profit Target Despite 2023 Reserve Impact

• Hannover Re achieved an operating result (EBIT) of EUR 1.97 billion in the financial year 2023, falling short of the consensus of EUR 2.40 billion.
• The increase in reserves in Property & Casualty reinsurance significantly impacted the EBIT, particularly in the fourth quarter.
• The resiliency reserve at the end of the 2023 financial year is expected to be significantly higher than the targeted EUR 1.7 billion.
• The operating result for Property & Casualty reinsurance reached EUR 1.10 billion, while Life & Health reinsurance contributed EUR 0.87 billion to the operating result.
• Group net income increased to EUR 1.8 billion, thus achieving its annual profit target of at least EUR 1.7 billion. A one-off tax effect reduced the Group tax rate to 1.4% in 2023.
• Hannover Re will publish the annual report for the 2023 financial year on 18 March 2024.

The next important date, Publication Annual Financial Report, at Hannover Rueck is on 18.03.2024.

The price of Hannover Rueck at the time of the news was 222,40EUR and was down -1,31 % compared with the previous day.
13 minutes after the article was published, the price was 225,00EUR this corresponds to a plus of +1,17 % since publication.
At this time, the index DAX was at 17.023,50PKT (+0,59 %).

Hannover Rueck

+0,07 %

-0,09 %

-7,03 %

+4,07 %

+23,29 %

+47,55 %

+72,37 %

+242,84 %

+624,06 %

ISIN:DE0008402215WKN:840221

• Intraday
• 5 Tage
• 1 Monat
• 3M
• 1 Jahr
• 3J
• 5J
• 10J
• Max