Hannover Re : Solid Q3 2024 technical profits; Outlook for 2025 NP in line with consensus
>Q3 2024 technical profits were solid but EBIT stood below consensus estimate - Hannover Re reported solid technical profits for its segments in Q3 2024 which were broadly in line with consensus estimates. Group EBIT of € 791m came in below the € 841m consensus and our € 798m estimate, driven by a lower-than-expected investment income digesting value adjustments on real estate and PE exposures. Group net profit was helped by a € 120m positive tax one-off which propel...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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