Hannover to reinvest €600m in core reinsurance business
Global reinsurer Hannover Re has unveiled bumper results for 2006, posting a net profit of €514.4m on the back of net earned premium of €7bn and a non-life Property Casualty combined ratio of 98.4%. The results produced a return on Equity of 18.7%.
In a year that saw the sale of the firm’s Praetorian US specialty unit to QBE, gross written premiums were static at €9.2bn and the company reported and overall underwriting loss of €246.9m.
However a
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