Hannover Re this fall internet earnings Rises forty eight% after Tax advantage

Hannover Re, the sector’s 1/3- largest reinsurer, published a 48 percentage increase in fourth- area earnings, beating analysts’ estimates.

internet income rose to €265 million ($367 million) from €179 million [$248 million] a 12 months in the past, the Hanover, Germany-based totally agency said in a declaration nowadays. That surpassed the €216 million [$299 million] common estimate of 10 analysts surveyed by using Bloomberg. The reinsurer stored its dividend unchanged at €3 [$4.157] in step with percentage.

The reinsurer, led by using leader executive Officer Ulrich Wallin, reiterated its 2014 profit goal of €850 million [$1.178 billion] on Feb. 6, whilst agreement fees decline. prices charged by means of reinsurers, which assist primary insurers shoulder dangers, are under stress because of decrease-than-common catastrophe losses and as the deliver of capital is boosted by using pension fund cash.

The reinsurance industry had about $322 billion in capital at the cease of 2013, almost a report, in step with man carpenter, the reinsurance dealer of Marsh & McLennan Cos.

due to that supply, charges for belongings-catastrophe policies declined 11 percent in January and additionally fell for maximum different forms of coverage, in line with the dealer. Reinsurance charges declined in seven of the final 10 years, in step with the man chippie world assets catastrophe rate online Index.

final 12 months, claims against insurers and reinsurers from natural catastrophes dropped 52 percentage to about $31 billion amid a quieter typhoon season, in step with Munich Re, the arena’s biggest reinsurer.

Tax gain

Hannover Re had advantage of approximately €ninety million ($a hundred twenty five million] last yr, attributable to the release of provisions for deferred taxes, the organization said.

Munich Re said on Feb. 4 it plans to enhance its dividend after fourth-area earnings beat estimates on lower disaster- related fees. Swiss Re Ltd., the second one-largest reinsurer, additionally raised its proposed payout for 2013 after fourth-quarter earnings exceeded analysts’ estimates.

Hannover Re shares fell 2.7 percent this yr, compared with a 0.7 percentage benefit for the Bloomberg Europe 500 insurance Index. German insurer Talanx AG owns 50.2 percent of the reinsurer.