Hannover Re : FY 2019 prelims in line with expectations; growth should continue based on strong January 2020 renewals and moderate price increases
>FY 2019 preliminary net profit broadly in line with estimates - Hannover Re has reported preliminary FY 2019 results. Net income was at € 1.28bn, broadly in line with our estimate (€ 1.26bn) and the consensus (€ 1.30bn). The FY 2019 combined ratio stood at 98.2%, bang in line with our estimate and above the 97% target for the combined ratio due to above average nat. cat. and claims on man-made disasters. Management has kept its outlook for 2020 unchanged and targets ...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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