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HomeInsuranceHannover Re unveils half-year outcomes

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 revenue

€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 web revenue

€385.1 million

€364.7 million

€648.7 million

€670.6 million

 

“Our persistently robust and worthwhile progress exhibits how extremely sought-after Hannover Re’s reinsurance safety is amongst our purchasers throughout troublesome occasions,” commented Henchoz. “We delivered a passable outcome within the first half-year, not least due to our superlative threat and capital administration.

“We had been ready to do that regardless of setting apart reserves for impacts of the conflict launched in opposition to Ukraine in contravention of worldwide legislation, regardless of appreciable giant loss expenditures, and regardless of additional pandemic-related funds.”

Hannover Re, underneath its property and casualty reinsurance enterprise, has established a €316 million reserve for potential losses from the conflict in Ukraine. This drove the corporate’s web expenditure for giant losses in H1 to achieve €850 million – the next than anticipated determine for the interval and a rise from final 12 months’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 fee effectivity of our enterprise mannequin, and our agile capital administration. On this foundation we’re ideally positioned to sort out the quite a few challenges in our market.

“In opposition to this backdrop, and because of our robust buyer relationships, I’m assured that we are going to obtain our formidable targets for 2022. With the outcome for the primary six months, we now have laid very important groundwork to this finish.”

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