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5 February 2012

EUR408mn H1 cat losses hit Hannover Re

13 August 2010

A dozen major catastrophe events in the first half of the year amounted to net losses of EUR408mn for Hannover Re, which revealed a 28 percent year-on-year slide in its H1 net profits to EUR311mn.

The German reinsurance giant said large losses in the first and second quarter had exceeded its half-year budget, including a EUR182mn hit from the earthquake in Chile and an upwardly revised EUR89mn estimate for the Deepwater Horizon disaster.

Hannover Re CEO Ulrich Wallin, however, said...

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