RBC Tweaks Hannover Re Forecasts After Q3 Results

12:15 PM EST, 11/10/2026 (MT Newswires) -- RBC Capital Markets made "minor" changes to its forecasts for Hannover Re (HNR1.F) following the German reinsurance group's third-quarter financial results. "Most notable in Q3 was additional prudence in [Life & Health] as well as [Property & Casualty] after a good quarter for both divisions, with guidance to do more in Q4, and underpin earnings into 2027. The solvency miss can be seen through a similar lens, with the EUR1bn addition likely to provide plenty of headroom for growth plans we expect with the [capital markets day] on the 25th," analysts said Tuesday. "The only scope for a real surprise here would likely be capital return, but we see this as unlikely, given the clear position on dividends. We see the stock fully valued for [mid-single-digit] EPS growth." The research firm's EPS estimates for 2026 and 2027 were unchanged, while that for 2028 was lifted by 1%. Group investment income and solvency ratio estimates over the three years were also updated. The sector-perform rated stock has a price target of 280 euros.