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Hannover Re reports 7% higher H1 net income amid softer pricing
First-half net income rose to EUR 1.4 billion, while catastrophe losses shared with insurance-linked securities totaled just EUR 18 million.
Hannover Re reported 7% higher first-half 2026 net income of EUR 1.4 billion, as it said underwriting volumes increased at mid-year renewals despite continued price declines, with catastrophe losses below budget.
The reinsurer said it expects to stay on track for full-year guidance of EUR 2.7 billion after performance gains in operating profit, which rose 9.7% to EUR 1.9 billion, and a net reinsurance service result that climbed to EUR 1.7 billion.
Hannover Re also reported that property and casualty reinsurance volumes were hit by the softening market, with gross reinsurance revenue down 8.0% in P&C risks to EUR 8.8 billion, or 3.9% at unchanged exchange rates.
On losses, the company said large catastrophe and man-made events came in below its EUR 1.0246 billion budget, with EUR 784.7 million in H1 2026, including EUR 130.4 million tied to Winter Storm Fern, EUR 126.4 million from severe Atlantic windstorms impacting the Iberian Peninsula and Morocco, and EUR 75 million reserved for the Venezuela earthquake, according to Artemis.