(Il Sole 24 Ore Radiocor) - Milano, 11 mag - The German reinsurer Hannover Re said it posted a group net profit of 701.6 million euros in the first quarter of 2026, up by 47.9% compared to the year earlier.

Gross reinsurance revenue fell to 6.5 billion euros from 7.0 billion the year earlier, but was up by 0.6% at constant exchange rates. Life and health reinsurance revenue rose by 15.0% at constant rates, while property & casualty experience revenue declined by 4.7%.

Hannover Re confirmed its full year guidance. It continues to anticipate a group net income of at least 2.7 billion euros.

'Even though price pressures still have the upper hand in property and casualty reinsurance, our superb positioning enabled us to significantly expand our book of business - especially in the 1 April renewals - in areas where our profitability requirements were met,' said Clemens Jungsthoefel, the CEO. 'Against this backdrop, we remain committed to our disciplined underwriting approach, prioritise the quality of our portfolio and focus on business.

that generates sustainable profits.'

(RADIOCOR) 11-05-26 10:35:48 (0195) 5 NNNN