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Hannover Re confident over prospects despite increasing competition

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Hannover Re S.E.'s chief executive, Ulrich Wallin, has said that the reinsurer is confident about its prospects despite increasing competition in the market, Reuters reported.

Mr. Wallin said competition "has not resulted in our losing market share" and Hannover Re can expect "stable" and "attractive" business opportunities even in a soft market environment. The reinsurer expects around €850 million ($1.1 billion) in net profit in 2014.

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