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

Posted On: May. 8, 2019 5:47 AM CST

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.