Confirms FY guidance (Il Sole 24 Ore Radiocor) - Berlin, 12 Aug - Hannover Re confirmed its full-year guidance.

For 2024, Hannover Re expects to grow the reinsurance revenue in total business by more than 5% based on constant exchange rates. The currency-adjusted growth in reinsurance revenue will be disproportionately stronger in property and casualty reinsurance than in life and health reinsurance.

Group net income for the full year should reach at least 2.1 billion euros, it said.

Hannover Re expects a combined ratio of less than 89% in property and casualty reinsurance for 2024 in view of the improved market climate.

The ordinary dividend is expected to increase year-on-year over the 2024-2026 strategy cycle. The ordinary dividend will be supplemented by a special dividend provided the capitalisation exceeds the capital required for future growth and the profit target is achieved, Hannover Re added.

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(RADIOCOR) 12-08-24 10:03:31 (0153) 5 NNNN