Hannover Re Profits in First Quarter from Low Incidence of Natural Disasters and Favorable Capital Market Environment. The reinsurer's net profit rose by 15 percent to 558 million euros, even though analysts from Visible Alpha consensus had expected more at 589 million euros. The operating result increased by 13 percent to 811 million euros, while insurance revenue grew by 1.6 percent to 6.7 billion euros. Particularly impressive was the income from capital investments, which climbed from 381 million euros to 498 million euros.

For the current year, Hannover Re affirmed its outlook and expects an after-tax profit of over 2.1 billion euros, compared to 1.8 billion in the previous year. The analysts' consensus even credits the DAX-listed company with 2.2 billion euros.

In the renewal round as of April 1st, Hannover Re was able to push through slightly higher prices. The inflation- and risk-adjusted price increase of the renewed business amounted to 1.5 percent, with the renewed volume rising by 7.1 percent. "The renewal round as of April 1st has once again confirmed that the market environment, after significant price and condition improvements in the past years, has stabilized at a high level," said CEO Jean-Jacques Henchoz. "We are optimistic that we will be able to maintain this level in the upcoming renewals."

The focus of the April renewal was on the Asia-Pacific region and North America as well as on parts of the specialty business. Hannover Re thus appears to be well positioned to benefit from the stable market conditions in the coming months.