Hannover Re Reinsurance: €3.6bln Underwrite Premiums in Q1

Hannover Re Reinsurance Company attained €3.6 billion underwriting premiums within the first quarter of the current year, in compared to EGP3.8 billion in the same period of the last year, retreating with 3.6%.

Hannover stated that the total general insurance premiums reached around €2.1billion in March-end, whereas the net underwrite premiums up €1.6 billion in the same period.

The total investments value of Hannover reached around  €31.7 billion at March 2014 against €31.9 billion at December2013, registering €54.1million at the last of March.

The total value of operating profits reached €349.6 million at last March in compared to €366.5 million at the same period of the previous year but the net income reached €233 million against €231.2million.

The statement revealed that Hannover put €30.6 million reserves as a compensation of Malaysian crash plan.