Hannover Re: raises its target dividend

(CercleFinance.com) - The Hannover Re stock is up 2.
3% in Frankfurt today, following the group's announcement that it would increase in its target dividend payout ratio to between 35% and 45% of net income, against a previous target range of 35% to 40%.

Over the first six months of the year, the group reported net income that is up 3.8% at 555.3 million euros, with an operating profit that is up 13.5% at 907.3 million euros, for gross written premiums that are up 11% at 10 billion euros.

With a return on equity of 13.2%, which is significantly above its target of 9.5%, the German reinsurer has confirmed its target of net profit of over one billion euros for FY 2018.



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