Infoletter 1/2007 dated 05.01.2007
Hannover Re Reports Gratifying Interim Result
In the Interim Report published in November 2006, Hannover Re’s Chief Executive Officer Wilhelm Zeller expressed considerable satisfaction with the development of business at the Hannover Re: “Our result establishes an exceptionally robust platform for revising upwards and framing in more concrete terms our original profit target for the full 2006 financial year, namely a return on equity of at least 15 percent. We now expect the return on equity to come in significantly higher than 15 percent, with Group net income in the order of EUR 480 million or earnings per share of around EUR 4".
A few important key figures:
- Return on equity 18.6 % after tax
- All business groups on target or better than planned
- Major losses in property and casualty reinsurance only 3.1% of net premium
- Operating profit (EBIT) EUR 707 mn
- Group net income EUR 380 mn
- Earnings per share EUR 3.15
- Book value per share + 9.4 % since the beginning of 2006
For further information on our Interim Report, please refer to our Press releases or take a look at the Interim Report 3/2006.
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