Hannover Re : Q2 2019 results: headline figures below estimates but solid underlying profits
>Q2 2019 below expectations but solid underlying profits - Hannover Re reported Q2 2019 EBIT of € 492m, short of our estimate (€ 524m) and consensus (€ 540m). The negative deviation was driven by a higher than expected combined ratio and negative one-offs in L/H reinsurance. Attributable net profit came in at € 369m, implying a RoE of 15.1% in the quarter. In Q1 2019 Solvency II stood at a healthy 249%; in Q2 2019 the company said it was down slightly (we estimate 245...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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