Rate increases drive Hannover Re's business, premiums rise 19%

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International

Rate increases drive Hannover Re's business, premiums rise 19%

May 08, 2019 Reprints

Hannover Re S.E.'s gross written premiums grew 19% year over year to €6.4 billion ($7 billion) in the first quarter, driven by rate increases at renewals and despite intense competition in the property/casualty segment, Artemis.bm reports. Hannover Re's catastrophe bill totaled €59 million ($66 million) while overall profit grew more than 7% to €294 million.

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Rate increases drive Hannover Re's business, premiums rise 19%

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