Hannover Re : Strong technical profitability but large claims start to add up in Q3 2021
>Ongoing strong technical profitability - We have reviewed our estimates for Hannover Re following strong Q2 2021 results reporting. Underlying profitability of the business was strong in the quarter and reported net profit of € 365m was ahead of our € 318m and € 298m consensus estimate. H1 2021 net profit came to € 671m (in line with FY 2021 guidance of € 1.15bn to € 1.25bn). We have reviewed our estimates taking into account higher than expected COVID-19 claims in...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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