Hannover Re expressed considerable satisfaction with the development of its business in the first nine months of the year. ‘Despite challenging market conditions, and particularly in view of the low interest rate level, we generated Group net income of EUR 613 million and are thus well on track to achieve our full-year target in the order of EUR 800 million’, Chief Executive Officer Ulrich Wallin explained. ‘The positive development in the third quarter was again driven by a very good underwriting result in non-life reinsurance.’
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