FRANKFURT (Reuters) - Hannover Re posted a better than expected 30 percent rise in second quarter net profit, helped by a strong performance in reinsurance on cars and homes.
Quarterly net profit at the world's third biggest reinsurer rose to 186 million euros ($248 million) from 144 million in the year earlier quarter, outpacing the average forecast of 176 million euros in a Reuters poll.
“Property casualty reinsurance did extraordinarily well despite a range of large claims in the second quarter,” Chief Financial Officer Roland Vogel told journalists.
Hannover Re's hit from large losses was 260 million euros in the first half of the year, most of which fell in the second quarter, including 137 million for European floods in June.
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