Hannover Re reports Q1 ROE of 20.2 percent

German reinsurer Hannover Re has achieved a 20.2 percent return on equity for the first quarter of 2012, up from 4.7 percent in the first quarter of 2011.

The reinsurer also posted a net income of €261 million for the first three months of the year.

Ulrich Wallin, chief executive officer of Hannover Re, said that the key drivers were the company’s underwriting results in non-life and life/health reinsurance, as well as investment income.