Hannover Re : Q1 2019 with strong premium growth momentum and solid L/H result
>Q1 2019 results ahead of estimates - Hannover Re reported Q1 2019 results ahead of both our estimates and consensus. Group EBIT came in at € 450m vs consensus of € 433m and our estimate of € 425m with the beat driven by a strong ordinary investment income and a strongly improved result from L/H reinsurance. Net income of € 294m was ahead of consensus at € 281m. The annualized ROE for the quarter came to 12.6%, down 0.4pp yoy. We leave our full-year 2019e estimate for...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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