22 March 2018

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Hannover Re P&C turns EUR519mn Q4 profit

13 March 2018

Hannover Re has reported a 16.4 percent increase in operating profits for its property and casualty (P&C) reinsurance division, to EUR518.5mn for the fourth quarter of 2017.

The improvement on the prior-year period total of EUR498.3mn came despite a EUR101.1mn loss from California wildfires in Q4.

The P&C combined ratio improved 2.8 percentage points to 87.1 percent, compared with Q4 2016, while underwriting profits rose 48.9 percent to EUR311.2mn.

Gross written premiums (GWP) in the P&C business increased 20.5 percent...

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