The Swiss Times - Swiss News in English

Hannover Re Announces Record Profits and Increased Shareholder Payouts

  • By The Swiss Times
  • 18 March 2024

Hannover Re, the global reinsurance giant, sets a new earnings benchmark, boosting shareholder rewards after a phenomenally profitable year.

Hannover Re Announces Record Profits and Increased Shareholder Payouts
Keystone/CHRISTIAN BEUTLER

Hannover Re, the world’s third-largest reinsurer, plans to pay out significantly more money to its shareholders following a record profit. For the past year, they are to receive 7.20 euros per share (around 6.93 francs) including a special dividend, as the competitor of Swiss Re announced on Monday in Hannover, northern Germany.

Hannover Re had paid EUR 6 per share for 2022. The planned distribution for 2023 consists of an ordinary dividend of EUR 6 and a special dividend of EUR 1.20 per share. For the previous year, there was an ordinary dividend of EUR 5 and a special dividend of EUR 1.

On balance, Hannover Re earned around EUR 1.8 billion last year, more than ever before, as it had already announced at the beginning of February. For 2024, Group CEO Jean-Jacques Henchoz continues to expect an increase to at least 2.1 billion euros. The insurance group Talanx, which holds a good half of Hannover Re shares, is the main beneficiary of the profit and dividend.

©Keystone/SDA

Most Read

Sunday, April 7 – Round Up

7 April 2024
Sunday, April 7 – Round Up
Switzerland may fund French nuclear projects as it grapples with internal issues in the news this Sunday morning.

Swiss Employers Association: Increase Retirement Ages

8 April 2024
Swiss Employers Association: Increase Retirement Ages
Following the rejection of a pension initiative, the Swiss Employers' Association (SAV) recommends a gradual raise in retirement age to 66.

Mustafa Atici Wins: First Migrant in the Executive

8 April 2024
Mustafa Atici Wins: First Migrant in the Executive
Mustafa Atici, a Kurdish-born entrepreneur, wins the Basel's government election, the first migrant in the executive.

Swiss Oculis Secures $59M in Funding: Iceland Listing Next

11 April 2024
Swiss Oculis Secures $59M in Funding: Iceland Listing Next
Oculis finalises a $59 million investment round and sets sights on Nasdaq Iceland listing, bolstering its innovative eye care solutions.

Stay in Touch!

Noteworthy

Barry Callebaut Beats Market Trends with Sales Increase
Barry Callebaut Beats Market Trends with Sales Increase
10 April 2024
Zug Leads Swiss Purchasing Power: GfK Study Insights
Zug Leads Swiss Purchasing Power: GfK Study Insights
9 April 2024