Hannover Re posts €1.3 billion half-year profit

Hannover Re  reported a half-year net income of €1.3 billion, up 13.2% year-over-year, with a return on equity of 23% — well above its 14% target.

Property and casualty reinsurance revenue rose 4.8% to €9.5 billion, though large-loss expenses reached €976 million, mainly from California wildfires.

The combined ratio stood at 88.4%, slightly above the full-year goal. Life and health reinsurance delivered €444.5 million in results, in line with expectations.

Investments produced a 3.3% return, supporting guidance for 2025 net income of about €2.4 billion.

The solvency ratio remained strong at 261%, allowing Hannover Re to redeem a hybrid bond without refinancing.