Hannover Re has reported its full-year 2025 results this morning, with a meaningful increase to net income and clear growth in property and casualty risks, while on the large loss side insurance-linked securities (ILS) capital sources ended up supporting roughly 20% of the large losses it experienced.
Over 2025, Hannover Re’s group net income increased by 13.4% to EUR 2.6 billion, reinsurance revenues were up by 4.7% at constant exchange rates and return on equity for the year was an impressive 21.4%.
The reinsurance service result (net) rose by 15.8% to EUR 3.5 billion, up from EUR 3.0 billion in the prior year and growth was strong in P&C reinsurance, as Hannover Re reported its new business CSM (net) increased by 12.1% in 2025 to EUR 3.1 billion, up from the prior year’s EUR 2.7 billion.
As a result, Hannover Re has set a target of group net income of at least EUR 2.7 billion for the 2026 financial year, with mid-single-digit revenue growth anticipated in property and casualty reinsurance and a combined ratio of 87%.
FULL ORIGINAL PUBLICATION HERE