Hannover Re has posted group net income of €710.6m for the first quarter of 2026 (Q1 2026), up 47.9% from €480.5m in the same period a year earlier, despite what the company referred to as “market headwinds”.
Earnings per share were €5.89, up from €3.98
Gross reinsurance revenue at group level came to €6.5bn at the end of March versus €7bn a year earlier, down 7.2%. In life and health reinsurance, currency-adjusted growth was 15%. In property and casualty (P&C) reinsurance, revenue fell 4.7% at constant exchange rates.
Within that business, traditional reinsurance recorded exchange rate-adjusted growth of 2.1%, while structured reinsurance revenue declined following a reduction in several larger contracts. After premium growth of 18.8% in the April renewals, Hannover Re said it “remains confident” of meeting its full-year target for revenue growth in traditional P&C reinsurance in the mid-single-digit percentage range. The net reinsurance service result rose by 73% to €890.2m from €514.8m.