Hannover Rueck SE (LTS:0M9A)
€ 254.05 -1.1 (-0.43%) Market Cap: 30.61 Bil Enterprise Value: 34.43 Bil PE Ratio: 13.56 PB Ratio: 2.74 GF Score: 65/100
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Half Year 2021 Hannover Rueck SE Earnings Call Transcript

Aug 05, 2021 / 08:30AM GMT
Release Date Price: €145.85 (+3.42%)
Jean;Jacques Henchoz
Hannover Rück SE - CEO & Chairman of the Executive Board

Thank you much, and good morning, everyone. Welcome to our conference call presenting our results for the first half of this year. As usual, I'll start with an overview before our CFO, Clemens Jungsthofel, goes over the financials in detail. I'll then comment on the outlook for the year thereafter. For the Q&A, I'm additionally joined by my Board colleagues, Klaus Miller on the Life and Health side; and Sven Althoff of P&C.

I'm pleased to report that with a group net income of EUR 671 million, Hannover Re has successfully taken the next step towards achieving its full year guidance. Additionally, we continued to grow our business at attractive terms. At 12.2%, the return on equity returned to pre-COVID levels even though the results of our life and health business group were still impacted by the COVID-19 pandemic.

Gross premium increased by 14.2% adjusted for currency effects. This is mainly driven by our property and casualty business group, where we recorded continued strong

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