Hannover Re beats street with 63 pct rise in Q3 net
FRANKFURT Nov 6 (Reuters) - Hannover Re beat forecasts with net profit that rose by 63 percent to 265.5 million euros ($339 million) in the third quarter, helped by surging investment income and a dearth of big damage claims.
The world's third biggest reinsurer, in which German insurer Talanx holds a majority stake, had been expected to report quarterly net profit of 213 million euros, the average of nine forecasts in a Reuters poll of banks and brokerages showed.
Hannover said it expected net income to exceed 800 million euros this year and be at about that level in 2013.
It added that it was too early to say what its share of the damage claims from Hurricane Sandy in the United States would be. ($1 = 0.7823 euros) (Reporting by Jonathan Gould)
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- U.S. ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal
- China's parliament: Japan has "no right to criticize" air defense zone