Hannover Re reported robust premium growth and better-than-expected Group net income as at 30 September 2010. This was driven by strong demand in non-life and life/health reinsurance, healthy investment income and a positive tax effect.
“In view of the highly gratifying development of business in the third quarter and the additional income deriving from the tax effect on which we reported in our ad hoc announcement dated 20 October 2010, we are raising our profit forecast for the full financial year from around EUR 600 million to more than EUR 700 million”, Chief Executive Officer Ulrich Wallin confirmed.
To read Hannover Re’s full report click here…
Source : Hannover Re Press Release