German reinsurer Hannover Re lifts outlook despite weaker Q3 [Yahoo! Finance]
HANNOVER RE SE S/ADR (HVRRY)
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Source: Yahoo! Finance
German reinsurer Hannover Re on Monday reported lower third-quarter profit and reinsurance revenue, but lifted its fiscal 2025 outlook and issued higher profit guidance for 2026 after an increase in nine-month earnings. Chief executive Clemens Jungsthöfel said: "We generated a very good group profit in the first nine months. Both business groups as well as the investments and our lean operating model contributed to this." "In view of this favourable business performance we are raising our earnings guidance for the current year." For fiscal 2025, the company now expects group net income of around €2.6 billion ($3 billion), higher than the previous estimate of around €2.4 billion. Reinsurance revenue (gross) in property and casualty reinsurance is projected to grow by more than 7%. Further, for fiscal 2026, the company projects group net income of at least €2.7 billion. Jungsthöfel added: "In a landscape still clouded by uncertainties, demand for reliable and high-quality rei
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