Hannover Re stock gains as profit target holds after nine months

Hannover Re reported stronger nine-month earnings on Monday, November 9, 2026, and kept its full-year profit target unchanged. The company announcement, carried by FT Company Announcements, showed group net income up 6.9% to EUR 2.1 billion for the first nine months.

Underwriting and investments support earnings

Operating profit rose 16.5% to EUR 2.9 billion, while earnings per share reached EUR 17.42. Gross reinsurance revenue was EUR 19.5 billion, with growth of 1.1% at constant exchange rates.

Property and casualty reinsurance delivered a combined ratio of 83.7%, improving from 86.0% a year earlier and beating the full-year expectation of below 87%. Large-loss payments reached EUR 1.316 billion through September, below the EUR 1.7865 billion budget for the period.

Net investment income increased 40.4% to EUR 1.9 billion. Hannover Re said the comparison benefited from loss realisations in the previous year and higher ordinary income from fixed-income securities. The annualised return on investment reached 3.7%, above the full-year target of around 3.5%.

Guidance leaves catastrophe risk in focus

Hannover Re reaffirmed 2026 group net income of at least EUR 2.7 billion. The outlook assumes that large-loss expenditure does not materially exceed the EUR 2.3 billion full-year budget and that capital markets do not create unforeseen distortions. Management also expects a combined ratio below 87% and a life and health reinsurance service result of around EUR 925 million.

What changed since the last report

Since the own premarket report at 08:08 CET on November 10, Hannover Re stock advanced from EUR 290.60 to EUR 296.30, an increase of 1.96%. Hannover Re stock traded at EUR 296.30 on Lang & Schwarz at 18:00 CET on Tuesday, November 10, 2026, 0.17% above the Xetra close of Tuesday, November 10, at EUR 295.80. The Xetra close was 2.35% above the Xetra close of Monday, November 9, at EUR 289.00.

European insurance shares remain sensitive to catastrophe-loss expectations, investment returns and renewal pricing; follow the latest DAX market reports for the wider market setting.

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