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20 October 2017

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Hannover Re shares fall as Q2 profit fails to impress

Matthew Neill 10 August 2017

Shares in German reinsurer Hannover Re dropped almost 5 percent as investors appeared unimpressed with a consensus-beating EUR399.5mn ($469.3mn) operating profit in the second quarter.

The stock fell about 4.9 percent to EUR103.75 as the market looked past the FX and investment-driven profit to focus on a deterioration in the reinsurer's underwriting results and an increase in reserves linked to the change in the UK's Ogden rate earlier this year.

Underwriting profits in the property and casualty (P&C) division fell...


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