Hannover Re changes portfolio mix to be underweight catastrophe business: RBC analysts

Analysts at Canada-based RBC Capital Markets said that Hannover Re S.E. has changed its portfolio mix to be underweight catastrophe business as it finds property catastrophe reinsurance profits to be marginal, reported Artemis.bm.

The reinsurer, however, still expects the catastrophe reinsurance business to be profitable in coming years due to an absence of large losses. The analysts found that Hannover Re remains confident in its ability to continue to grow earnings every year despite the softening market.

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