Insurer: Hannover Re sees itself on course – quiet hurricane season

Despite the crumbling prices, Hannover Re continues to pursue its annual targets. Reinsurance sales grew in the first nine months of 2026 by one percent after adjusting for exchange rates to 19.5 billion euros, as the number three among the world's largest reinsurers announced on Monday.

Profit after taxes rose by almost seven percent to 2.1 billion euros. For the current year, the goal remains a profit of at least 2.7 billion euros, provided that major losses remain within the 2.3 billion euros reserved for this purpose. “Our consistent focus on disciplined underwriting and our lean business model enable us to grow profitably in all phases of the market, particularly in property and casualty reinsurance,” said CEO Clemens Jungsthöfel.

In the first nine months, Hannover Re benefited from the fact that the hurricane season in the Atlantic got off to an unexpectedly mild start. So far, it has only had to pay 1.32 (2025: 1.18) billion euros for natural disasters and other major losses; the pro-rata budget was 1.79 billion.

The largest individual losses so far were the earthquake in Colombia in August with 216 million euros and the Atlantic storms over Spain and Portugal at the beginning of the year with 136 million euros. Hannover Re had set aside around 200 million euros for possible consequences of the Iran war.