Tuesday, August 4, 2020

Hannover Re cancels profit forecast – dividend should remain

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Hanover The world’s third largest reinsurer, Hannover Re, is withdrawing its 2020 profit target due to the corona pandemic. The expected negative consequences of the crisis cannot yet be assessed due to the great uncertainties, the company listed in the MDax surprisingly announced on Tuesday evening in Hanover.

Management expects increased burdens, especially in capital investments and property and casualty reinsurance. In mid-March, Hannover Re boss Jean-Jacques Henchoz had targeted an annual profit of 1.2 billion euros.

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