Hannover Re H1 FY26 net income rises 7% to EUR 1.4 billion; revenue falls 3.1% to EUR 12.9 billion

• Hannover Re first-half net income rose 7% to EUR 1.4 billion, keeping it on track for full-year guidance of at least EUR 2.7 billion.
• Gross reinsurance revenue fell 3.1% to EUR 12.9 billion, while operating profit (EBIT) climbed 9.7% to EUR 1.9 billion.
• Property and casualty combined ratio improved 5.2 percentage points to 83.2%, beating its full-year expectation of below 87%.
• Large-loss payments totaled EUR 784.7 million, below its first-half budget of EUR 1.02 billion; roughly EUR 200 million set aside for Iran war impacts.
• Return on investment reached 3.7% versus a roughly 3.5% target; management cited a robust capital base and disciplined capital management.

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