Hannover Re announces “breakeven” 2005 results
Hannover Re has said that it achieved a “breakeven” result for 2005, despite what it described as “an unparalleled burden of natural catastrophe losses” for international reinsurers.
The company made a profit of €122.2m in 2005, down sharply on the €538.8m it made the previous year. It blamed the fall on the three major hurricanes of 2005, Katrina, Wilma and Rita, saying that they
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