Hannover Re, the world’s third- biggest reinsurer, has sufficient capital to offer investors a steady dividend and pursue potential purchases, Chief Executive Officer Ulrich Wallin said.
Private-equity firms that focus on buying closed life insurance funds should invest for the long term to bolster the industry if they are to be tolerated, Germany’s financial regulator said.
Property and casualty reinsurance prices declined on policies renewed for April 1 amid an oversupply of capital and muted demand from clients, according to Willis Re.
Old Mutual Plc, Africa’s biggest insurer, is selling its Skandia units in Germany and Austria for 220 million euros ($303 million) in cash.
Talanx AG, Germany’s third-biggest insurer, said fourth-quarter profit tripled after higher earnings at its industrial insurance business and lower tax at its reinsurance unit.
Hannover Re, the world’s third- biggest reinsurer, posted a 48 percent increase in fourth- quarter profit, beating analysts’ estimates.
Munich Re, the world’s biggest reinsurer, said profit this year is expected to decline 9.1 percent as prices charged by the industry are in decline.
European stocks were little changed, after swinging between gains and losses, as investors weighed economic data and the growing conflict in Ukraine for their impact on company earnings.
Hannover Re, the world’s third- biggest reinsurer, confirmed its profit target for this year even as the prices it charges customers for coverage fell.
Hannover Re, the world’s third- biggest reinsurer, said third-quarter profit fell 23 percent on lower investment income, beating analysts’ estimates.
"The most important keys to this success were solid growth, a good underwriting result in non-life reinsurance and exceptionally pleasing investment income."
- Hannover Re on Mar 06, 2013