August 10, 2017 / 5:49 AM / a year ago

Hannover Re affirms 2017 target after Q2 profit jumps by a quarter

FRANKFURT, Aug 10 (Reuters) - Hannover Re said on Thursday that second-quarter net profit rose nearly 25 percent from a year earlier and affirmed its guidance for the full year.

The quarterly profit of 270 million euros ($316.74 million), up from 217 million a year earlier, was in line with analyst expectations.

The German reinsurer confirmed its outlook for group net income of 1 billion euros in 2017.

“Once again, both of our business groups, namely property and casualty and life and health reinsurance, as well as exceptionally good investment income all contributed to our pleasing half-yearly result,” said Chief Executive Officer Ulrich Wallin in a statement.

“We are nevertheless faced with a market situation that remains challenging going forward,” he said.

$1 = 0.8524 euros Reporting by Tom Sims; Editing by Maria Sheahan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below