HANOVER (dpa-AFX) - Financial services provider Hannover Ruck reported that its preliminary group net income for the financial year 2023 increased to 1.8 billion euros and the company thus achieved its annual profit target of at least 1.7 billion euros.
Operating result (EBIT) was 1.97 billion euros in the financial year 2023 compared to Analysts' estimates of 2.40 billion euros.
An increase in reserves in Property & Casualty reinsurance had a significant impact on EBIT, particularly in the fourth quarter, which led to a much greater increase in the confidence level of reserves than originally planned.
The company said it will publish the annual report for the 2023 financial year as announced on 18 March 2024.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
