(Reuters) — Hannover Re S.E. forecast unchanged net income of €950 million ($1.05 billion) next year, saying on Wednesday it expected stable to slightly lower gross premiums when adjusted for currency swings.

"Property insurance is more likely to see declining rather than stable premiums," said Chief Financial Officer Roland Vogel. "Growth this year came mainly from a few large-volume contracts rather than bread-and-butter reinsurance business."

Mr. Vogel said the company aimed to do more such contracts next year, but these were not included in its targets for premiums, which rose 20% in the first nine months of this year.

Reinsurers such as Hannover Re, Munich Reinsurance Co. and Swiss Re Ltd. act as a financial backstop for insurance companies, helping them pay for large damage claims from hurricanes or earthquakes in exchange for part of the premiums.

"It is positive that the newly implemented FY 2016 target is at the same level as the strong 2015, despite price pressure in nonlife reinsurance and low interest rates," DZ Bank analyst Thorsten Wenzel said.

Hannover Re said it was confident of achieving its profit goal for this year, also set at €950 million, after beating expectations in the third quarter with net profit of €254 million ($283.9 million).

Analysts already expected profit of more €1 billion ($1.10 billion) in 2015, according to a Reuters poll.

"It's certainly possible that we'll exceed €950 million if there are no big surprises in the final quarter but it doesn't make sense for us to raise the target now," Mr. Vogel said.

Good results so far increased the chances the company would pay a dividend in the order of the €4.25 it paid for 2014, he said. Analysts already expected a dividend of €4.52 ($4.98) on average for this year, the Reuters poll showed.

The company expected to see damage claims under directors and officers insurance policies from the Volkswagen A.G. emissions scandal and the crash of a Russian Airbus jet in Egypt on Saturday, Mr. Vogel said, but neither was likely to count as a major loss for Hannover Re, defined as a claim of more than €10 million ($11 million).