Hannover Re increased its Group net income by 6.9% to EUR 2.1 billion in the first nine months of 2026, up from EUR 2.0 billion a year earlier, and confirmed its full-year guidance of at least EUR 2.7 billion. The German reinsurer’s results, released via NEWMEDIAWIRE, showed operating profit (EBIT) rising 16.5% to EUR 2.9 billion and earnings per share reaching EUR 17.42, compared with EUR 16.29 in the prior-year period.
Chief Executive Officer Clemens Jungsthofel attributed the performance to the company’s consistent focus on disciplined underwriting and its lean operating model, which he said enable Hannover Re to grow profitably across all market phases, particularly in property and casualty reinsurance. “We are thoroughly satisfied with the development of business in the first nine months,” Jungsthofel said, adding that the company is “very confident of achieving our full-year guidance.”
The property and casualty reinsurance segment delivered a combined ratio of 83.7%, an improvement from 86.0% a year earlier and better than the full-year expectation of less than 87%. Large loss payments totaled EUR 1,316 million, comfortably below the budgeted expectation of EUR 1,786.5 million for the period. The largest net individual losses included the August earthquake in Colombia at EUR 215.7 million, severe Atlantic windstorms affecting the Iberian Peninsula and Morocco at EUR 135.5 million, and Winter Storm Fern in the United States and Canada at EUR 107.6 million. Hannover Re also set aside roughly EUR 200 million in the second quarter for possible impacts of the Iran war.
Life and health reinsurance performed well, with reinsurance revenue (gross) rising to EUR 6.3 billion from EUR 5.8 billion, and the reinsurance service result (net) increasing to EUR 717.2 million. The segment remains on track for its full-year target of around EUR 925 million.
Net investment income surged 40.4% to EUR 1.9 billion, driven by higher ordinary income from fixed-income securities and active loss realization in the previous year. The annualized return on investment reached 3.7%, ahead of the full-year target of around 3.5%. “The profitable growth in our reinsurance portfolio continuously increases our investment volume, while we also benefit from the higher interest rate environment in our reinvesting activities,” said Chief Financial Officer Christian Hermelingmeier. The investment portfolio stood at EUR 70.1 billion, up from EUR 66.3 billion at the end of 2025.
Shareholders’ equity rose to EUR 13.7 billion as of September 30, 2026, from EUR 12.9 billion at year-end 2025, and the annualized return on equity reached 21.1%. The contractual service margin (net) increased 8.3% to EUR 8.6 billion. Hannover Re’s Solvency II capital adequacy ratio stood at 242%, comfortably above the threshold of more than 200%.
For the full year, Hannover Re expects Group net income of at least EUR 2.7 billion, assuming large loss expenditure does not significantly exceed the expected level of EUR 2.3 billion and no unforeseen distortions occur on capital markets. The company projects mid-single-digit percentage growth in reinsurance revenue (gross) in traditional business and a combined ratio of less than 87%. Further details are available in the financial supplement, and the company’s legal information is also available online. The original release can be viewed on www.newmediawire.com.
