Hannover Re.Hannover Re Hannover Re (FWB: HNRGn), in German Hannover Rückversicherung AG, with gross premium of around €9 billion in 2006, is one of the five largest reinsurance groups in the world. Its headquarters are in Hanover, Germany. Group revised its 2004 earnings estimate downward nearly 25% as a result of storm-related catastrophe Catastrophe, from the Greek Καταστροφή (katastrephein), literally means "to turn" (strephein) "downwards" (kata-). losses in the third quarter. The world's fifth-largest reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. said it anticipates net income of about 300 million euro (US$1 = 0.81 euro) for the year, down from its original projection of 390 million euro. Hannover Re is estimating 301 million euro in aggregate losses related to the four hurricanes that bit the U.S. Southeast. |
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