Hannover Re raises dividend after life business delivers profit growth in 2022


Hannover Rueck SE
said Thursday that it would propose a raised dividend after double-digit increases in earnings and premiums in 2022.

The German reinsurer declared a dividend of 6 euros ($6.33) a share including a special dividend, comprising a EUR5 ordinary dividend and a special dividend of EUR1, compared with EUR4.50 and EUR1.25, respectively–and EUR5.75 in total–in 2021.

It came after net income rose 14% to EUR1.41 billion and gross premiums increased 20% to EUR33.3 billion in the full year, figures which the company had already disclosed in early February.

While Hannover Re took heavy losses from natural catastrophes, the war in Ukraine and the Covid-19 pandemic in 2022, it had good earnings from investment and its life and health reinsurance business that helped deliver profits, it said.

The company confirmed its 2023 outlook, including net income of at least EUR1.7 billion under new IFRS 17 accounting standards, as disclosed in February.

Write to Ed Frankl at edward.frankl@wsj.com




Related articles

ChatGPT app downloads are slowing down, BofA finds

Sam Altman, CEO of OpenAIWin Mcnamee | Getty...

Missing Texas Teen Found Alive!

1A miracle occurred two days ago. A missing...

GM second-quarter sales increase 18.8% as supply chain stabilizes

2024 Chevrolet Silverado HD ZR2GMDETROIT – General Motors'...

How A.I. took center stage in the Hollywood writers’ strike

After failing to reach a contract resolution with...


Please enter your comment!
Please enter your name here