Hannover Re : Q3 2019 results with a strong beat from Life reinsurance; 2020 guidance in line with expectations
>Q3 2019 net profit ahead of expectations - Hannover Re reported Q3 2019 EBIT of € 453m, ahead of our estimate (€ 416m) and consensus (€ 413m). The positive deviation was driven by strong investment income (high realised gains linked to the disposal of a real estate asset) and a positive one-off in P/C reinsurance (€ 50m gain on the disposal of Svedea MGA). The P/C reinsurance combined ratio disappointed at 102.1% reported vs our estimate of 97.5% and the consensus fo...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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