Hannover Re trims combined ratio to 92.3% as P&C re profits grow 56%
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Hannover Re trims combined ratio to 92.3% as P&C re profits grow 56%

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Hannover Re’s Q1 P&C reinsurance operating profit grew by 56% year on year to EUR466.3mn ($511.6mn) as it confirmed it expects the division to contribute at least EUR1.6bn to the operating result for the full year.

The carrier attributed the improved results to the prior year’s results including provisions for Ukraine-related losses and a more focused approach to underwriting, which contributed to higher new business value.

P&C

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