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Hannover Re says U.S. mortality to weigh on 2018 earnings
October 19, 2017 / 7:03 AM / 2 months ago

Hannover Re says U.S. mortality to weigh on 2018 earnings

FRANKFURT (Reuters) - German reinsurer Hannover Re (HNRGn.DE) expects problems at its U.S. mortality business to continue to affect earnings next year, with improvement from 2019, it said on Thursday.

Chief Executive Ulrich Wallin said at Hannover Re’s investor day that the company expects its earnings per share to grow at least 5 percent in 2018, compared with its 2017 target for at least 6.5 percent, according to presentation slides.

It sees its 2018 return on equity decreasing to 9.5 percent next year compared with its 9.7 percent target for 2017.

Reporting by Arno Schuetze; Editing by Maria Sheahan

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