Based on provisional figures, Hannover Re will generate Group net income of around EUR 1.17 billion (previous year: EUR 1.15 billion) for the 2016 financial year. The company will thus clearly surpass its profit target of at least EUR 950 million. The principal driver is a further improvement in the underwriting result in property and casualty reinsurance. In addition, the tax rate for 2016 decreased to a normalised level because higher tax expenditure provisionally recognised in the previous year did not recur. The operating profit (EBIT) for 2016 amounts to roughly
The present annual results are still subject to certification by the auditors and approval by the Supervisory Board.
Hannover Re will publish detailed information on the 2016 annual financial year on