German re-insurer Hannover Re reported lower profit and reinsurance revenue in Q3, but nine-month profit increased. Company raised fiscal 2025 outlook and issued guidance for 2026, expecting growth. CEO highlighted favorable business performance leading to improved earnings guidance for the current year. For fiscal 2025, Group net income is now expected to be around 2.6 billion euros, and reinsurance revenue in property and casualty reinsurance is projected to grow by over 7 percent. For fiscal 2026, Group net income is projected to be at least 2.7 billion euros. Despite Q3 decline in net income and reinsurance revenue, nine-month group net income increased by 7.7 percent year-over-year.

Read more at Nasdaq: Hannover Re Q3 Results Down; Lifts FY25 Outlook, Sees Growth In FY26 Profit