Hannover Re's profits jump as Chile hit assessed
Hannover Re hauled back to an impressive profit EUR731mn last year, but is bracing itself for a EUR225mn hit from the Chile earthquake and recent European storm damage.
The global reinsurer's profit for 2009 reverses losses of EUR127mn in the previous year and beat analysts' consensus expectations of EUR713mn.
However, the recent earthquake in Chile will cost the reinsurer EUR185mn, while the bill for Winterstorm Xynthia will be EUR40mn.
Hannover Re CEO Ulrich Wallin commented that the events won't dent...
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