Hannover Re : Q1 2024 strength in P/C compensates for weakness in L/H reinsurance
>Q1 2024 net profit came in broadly in line with expectations - Hannover Re reported Q1 2024 net profit of € 558m slightly shy of the € 564m consensus and our € 568m estimate. P/C reinsurance operations surprised positively based on a better technical profit than expected while L/H reinsurance operations came in below estimates based on reserve strengthening related to morbidity exposures. Hannover Re reiterated its outlook for at least € 2.1bn net profit for 2024 bas...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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