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Fitch shifts Hannover Re outlook to positive, keeps AA- ratings
Fitch expects Hannover Re to sustain very strong capitalisation and financial performance over the next 12 to 24 months despite tougher market conditions and heightened competition.
Fitch Ratings changed the outlook on Hannover Re and its subsidiary E+S Rückversicherung AG from Stable to Positive, while keeping both companies’ Insurer Financial Strength ratings at AA-.
The rating agency linked the revised outlook to its view that Hannover Re’s financial resilience, strong capital position, and competitive standing in international reinsurance will hold up over the next 12 to 24 months.
Fitch said the ratings continue to be supported by Hannover Re’s established market position, diversified operations, and profitability track record, highlighting scale, competitive position, and geographic reach as key strengths.
Hannover Re operates across property and casualty and life and health reinsurance, with property and casualty making up about 70% of reinsurance revenue in 2025 and life and health about 30%, according to Fitch.