Hannover Re Increases Dividend Following Strong 2024 Financial Performance

Hannover Re announced a significant 28% rise in Group net income to EUR 2.3 billion for the 2024 financial year. The company surpassed its own strategic targets, boasting a return on equity of 21.2%, far exceeding the set minimum of 14%. Reinsurance revenue increased by 7.9% to reach EUR 26.4 billion.

The company proposed a total dividend of EUR 9.00 per share, a 25% increase from the previous year, with an ordinary dividend of EUR 7.00 and a special dividend of EUR 2.00. Hannover Re's strong financial results reflect an operating profit boost in property and casualty reinsurance to EUR 2.4 billion and life and health reinsurance to EUR 934 million.

The firm confirmed a guidance for 2025 with an anticipated Group net income of approximately EUR 2.4 billion. It expects its property and casualty reinsurance revenue to grow by more than 7% and aims for a return on investment of at least 3.2%.