Hannover Re : We raise estimates and TP on strong 2024 outlook
>Q2 2023 results broadly in line with expectations - We have revisited our estimates following Q2 2023 reporting and have increased our estimates for 2024 and 2025 based on a strong outlook for the group’s technical profitability. Our TP moves from € 175 to € 191. Hannover Re reported Q2 2023 results broadly in line with estimates. Group EBIT came to € 632m, slightly shy of the € 658m consensus, while group net profit attributable stood at € 476m vs the € 444m consens...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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