Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Hannover Re expects 2024 net income to top 2.1 billion euros

Published 12/12/2023, 07:21
Updated 12/12/2023, 07:25
© Reuters.

FRANKFURT (Reuters) - The German reinsurer Hannover Re said on Tuesday that it expects net profit in 2024 of at least 2.1 billion euros ($2.26 billion), a 24% increase over its guidance for the current year.

The company made the statements as part of its investor day held to outline its strategy for the years through 2026.

Also in 2024, Hannover Re said that it expects an increase in reinsurance revenue of more than 5% and a return on investment of at least 2.8%.

Hannover Re said its combined ratio - a measure of profitability for its property and casualty division - would land below 89% next year. Readings under 100% indicate profitability.

($1 = 0.9279 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.