Hannover Re's H1 operating profit down over 14% after €130m charge
Hannover Re, the Germany-based reinsurance giant, said that first half operating profit fell by over 14% to €400.2m, down from €467.7m after taking a €130.3m writedown on securities.
Gross written premiums for the first half of the year to end-June contracted 7.7% to €4.1bn from €4.5bn this time last year, hit by Hannover’s withdrawal from specialty business and the weak US dollar
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