Hannover Re CEO hails ‘very pleasing’ profit, P&C combined ratio smashes target

Big four European reinsurer Hannover Re substantially increased its group net profit in 2024 with a P&C combined ratio better than the target of 89%. The reinsurer capitalised on favourable market dynamics, with risk-adjusted prices and conditions improving in some areas and “stabilising on a high level” elsewhere across its P&C treaty renewals.

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