Hannover Re issues FY profit warning
Hannover Re, the German reinsurance giant, has said that the sharp fall in equity prices and the "above-average burden" of catastrophe losses has meant the full year profit estimates for 2008 are now no longer attainable.
Hannover Re said that for the first nine months of the year it estimates that the group will post a negative result of €140m. it booked write-downs and unrealised losses of around €466m, roughly €360m
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