Hannover Re reports strong 2024 financial results

Hannover Re  posted a 28% increase in group net income for 2024, reaching €2.3 billion, in line with revised guidance.

The company’s return on equity rose to 21.2%, surpassing its strategic target.

Reinsurance revenue grew by 7.9% to €26.4 billion, with property and casualty reinsurance driving a significant rise in operating profit to €2.4 billion, while life and health reinsurance reported an EBIT of €934 million.

The reinsurer proposed a €9 per share dividend, a 25% increase from the previous year, including a €7 ordinary dividend and a €2 special dividend.

Looking ahead, Hannover Re confirmed its 2025 guidance, targeting a net income of approximately €2.4 billion and maintaining a focus on profitable growth.

“We can look back on a very successful 2024 financial year, in which we grew steadily and generated a very pleasing Group profit. With the planned dividend increase, we are living up to our commitment to continuously grow the ordinary dividend over our current strategy cycle and underscoring our positioning as an attractive dividend stock.” – Jean-Jacques Henchoz, Chief Executive Officer.