Hannover Re : Premium growth should continue to drive earnings into 2019e
>Outlook for 2019 supports our unchanged estimates - Hannover Re reported a mixed bag of Q3 2018 results. While P/C reinsurance earnings were below estimates, the L/H reinsurance result came in ahead of expectations due to lower commutation charges booked for the legacy US mortality business. Group EBIT stood at € 250m vs our estimate of € 134m and consensus of € 161m. The annualized ROE for the quarter came to 8.2%. We leave our estimates broadly unchanged as higher ...Hannover is global reinsurance company. Co. operates through two business groups, Non-Life Reinsurance and Life and Health Reinsurance. Non-Life Reinsurance provides structured reinsurance solutions. Co.'s target markets are Germany and North America, and its specialty lines include Marine, Aviation, Credit and Surety, Structured Reinsurance, Insurance-Linked Securities and the United Kingdom, London market and direct business. Non-Life Reinsurance's Global Reinsurance consists of treaty reinsurance worldwide, facultative reinsurance and global catastrophe business. Life and Health Reinsurance provides solutions for life and health reinsurance and financial solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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