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Hannover (dpa) - The reinsurer Hannover Re sees itself on course to its annual targets thanks to the comparatively low damage from the corona pandemic in the first quarter.
CEO Jean-Jacques Henchoz continues to expect a profit of 1.15 to 1.25 billion euros for 2021, as the company listed in the MDax announced in Hanover on Wednesday.
In the first quarter, the world's third largest reinsurer earned around 306 million euros, almost two percent more than a year earlier, when the corona pandemic had just hit the world.
While Hannover Re did not have to bear any net corona-related major losses in property and casualty business this time, the many deaths as a result of the pandemic had a negative impact on life and health reinsurance with 151 million euros.
However, the group was able to almost compensate for this by restructuring its US business.
On the other hand, after the extreme onset of winter in Texas, Hannover Re had to shoulder net losses of more than 75 million euros.
© dpa-infocom, dpa: 210505-99-472641 / 2