Hannover Re Lifts Profit View

By Elena Vardon

Hannover Re raised its earnings guidance for the year on the back of a favorable business performance, positive one-off effects in its currency result and a lower tax rate for the first nine months of 2025.

The German reinsurer on Monday said it now expects net income for 2025 to come in around 2.6 billion euros ($3.01 billion), up from its previous guidance of around 2.4 billion euros and roughly in line with a 2.57 billion-euro estimate taken from a company-compiled consensus.

"For the coming year we are looking at a market environment with broadly adequate prices and conditions," said Chief Executive Clemens Jungsthoefel.

The group forecasts a further increase in net income in 2026 to at least 2.7 billion euros, it said.

For the three months ended Sept. 30, Hannover Re reported 651 million euros in net profit, down from 663 million euros a year prior.

Gross reinsurance revenue for the quarter came in at 6.37 billion euros, down from 6.785 billion euros while its net reinsurance service result was 969 million euros, up from 718 million euros. Earnings before interest and taxes--or operating profit--decreased to 738 million euros from 791 million euros.

Analysts had penciled in a net profit of 637 million euros on reinsurance revenue of 7.03 billion euros, 801 million euros in net reinsurance service result and 877 million euros in EBIT, according to consensus estimates compiled by the company.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

November 10, 2025 02:17 ET (07:17 GMT)