Life profits put Hannover Re ahead in Europe

Hannover Re chief executive Wilhelm Zeller was optimistic about the company’s medium term outlook based on what he calls its ‘cycle thermometer’. Mr Zeller noted that the number of non-proportional treaties renewed in January at lower rates had exceeded the number renewed at higher rates for the first time during the present cycle

Very strong life results enabled Hannover Re to eclipse not only its larger European competitors but also most Bermudian companies in 2007. It ranked as the fourth most profitable reinsurer even though its non-life profit fell slightly because of investment losses ( see tables below ).