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

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.