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Hannover Re sees over 14% growth in net income despite heavy losses

Posted On: Mar. 10, 2023 9:43 AM CST

Financial results

German reinsurer Hannover Re SE’s net income increased by 14% year-on-year to €1.41 billion ($1.48 billion) in 2022, despite heavy losses from the COVID-19 pandemic, the war in Ukraine and natural catastrophes, Xprimm reported. The reinsurer’s gross written premium increased by 20% to €33.3 billion, while the operating profit grew by 20% to €2.1 billion.