Report
Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

Hannover Re : Good start to 2023 and to the new accounting framework

>Q1 2023 results ahead of estimates - Hannover Re reported Q1 2023 results under the new IFRS 17 accounting framework. Reported net profit totalled € 484m and thus ahead of the € 445m consensus and our € 451m estimate. While P/C reinsurance EBIT contribution came in broadly as expected, the L/H reinsurance EBIT contribution was driving the earnings beat. The Solvency II ratio remained strong at 261% and management reiterated the outlook for 2023 of at least € 1.7bn ne...
Underlying
Hannover Rueck SE

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

Roland Pfaender,MBA,CFA,CCRA

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