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19 March 2018

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Hannover Re Q4 P&C profit rises 16%

John Hewitt Jones 13 March 2018

Hannover Re has reported a 16.4 percent increase in P&C operating profits for the fourth quarter and a steep rise in the volume of business written.

P&C operating profit rose to EUR518.5mn ($638.8mn), and comprised the lion's share of Hannover Re's group operating profit of EUR558mn, which rose 12 percent.

The P&C combined ratio improved 2.8 points to 87.1 percent. Underwriting profit at the unit rose 48.9 percent to EUR311.20mn.

P&C gross written premiums (GWP) rose 20.5 percent to EUR2.51bn...

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