Hannover Re on course for record profits despite expensive natural disasters

Hannover Re on course for record profits despite expensive natural disasters

According to a report by nord24.de, the world's third-largest reinsurer Hannover Re recorded a profit of a good 439 million euros in the third quarter, despite expensive natural catastrophes, almost one and a half times as much as in the previous year. This means that CEO Jean-Jacques Henchoz is confident that the company will earn at least 1.7 billion euros for the full year. The severe storms in northern Italy and the forest fires on the Hawaiian island of Maui contributed significantly to the costs of 132 million euros and 87 million euros, respectively. Due to the new accounting standards, the previous year's figures were adjusted accordingly.

Hannover Re's positive quarterly balance despite the expensive natural disasters is a sign of its stability and resilience on the market. This could increase investor confidence and potentially have a positive impact on the company's share price. Additionally, the CEO's confidence could have an impact on consumers' perceptions and trust in the insurance industry as a whole.

The expensive natural disasters have clearly shown how strongly the insurance industry can be influenced by external factors. Companies like Hannover Re must continue to improve their risk assessment and management strategies in order to be able to respond appropriately to such events in the future.

The quarterly reports and announcements from such companies continue to be closely followed by business experts as they provide insights into the stability and performance of the market and the industry as a whole. This can also influence potential investors and have an impact on the entire economy.