Hannover Re

Hannover Re (FWB: HNR1) is a German reinsurance company with a network of more than 170 subsidiaries with branches and representative offices worldwide. Having been established in 1966, the company was listed on Frankfurt and Hannover stock exchanges in 1994. Hannover Re is one of Europe's big four reinsurers and reported gross reinsurance revenue of EUR 24.5 billion (USD 26.2 billion) as of December 2023 . As of 2022, Hannover Re was the world’s second-largest property and casualty (P&C) insurer.  

Hannover Re offers reinsurance solutions under two business segments: Property & Casualty (P&C) and Life and Health (L&H). The P&C segment accounted for ~69% of gross reinsurance revenue in 2023. The L&H segment accounted for ~ 31% of gross reinsurance revenue and had four business lines: Mortality, Longevity, Morbidity, and Financial Solutions.

North America was Hannover Re’s largest market, accounting for ~42% of gross reinsurance revenue in 2023, followed by Europe (~33%), Asia (~13%), Australia (~6%), and Africa (~2%). Hannover Re expects net income to be at least EUR 2.1 billion in 2024 (EUR 1.8 billion in 2023), while the reinsurance revenue is expected to grow by at least 5% (+1.8% YoY in 2023). Hannover Re is committed to achieving net-zero emissions in the reinsurance business by 2050.