Hannover Rueck SE Reports Strong 2024 Earnings Growth [Yahoo! Finance]
HANNOVER RE SE S/ADR (HVRRY)
NASDAQ:AMEX Investor Relations:
hannover-re.com/122688/investors
Company Research
Source: Yahoo! Finance
Hannover Rueck SE (ADR) is a global reinsurance company, operating across property, casualty, life, and health sectors with a focus on managing and underwriting risks. In its latest earnings report, Hannover Re reported a strong financial performance for the first nine months of 2024, highlighted by a significant increase in net income and a robust return on equity. The company has raised its full-year profit target due to favorable business development and a positive tax effect. Key financial metrics include an 8.7% increase in reinsurance revenue to EUR 19.7 billion and a 30.4% rise in group net income to EUR 1,824.4 million. The operating profit also saw a notable climb, improving by 33.3% to EUR 2,448.2 million. The investment portfolio showed growth, reaching EUR 63.0 billion, with a return on investment surpassing the target at 3.1%. The company's capital adequacy ratio remains robust at 260.2%, well above the threshold, indicating strong risk management capabilities. The
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