Hannover Re: a brilliantly run and well-constructed specialist reinsurer.
Hannover Re reported half-year results of EUR 555 million net income and just shy of 4% improvement on the prior year. This is very slightly below our estimates, but for the time being we are maintaining our EUR 110 per share fair value estimate and narrow moat rating.The period has been impacted, continually, from rising losses from U.S. mortality businesses. This problem just isn’t going away as we have written on this in several past quarters. The drag is improving, but it is still prevalent...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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