Hannover Re Q1 net profit rose 48% YoY to €710.6 million, missing consensus €721 million forecast.
Operating profit increased 39.4% to €971.1 million, while total revenue fell 6.4% to €6.52 billion, flat after currency adjustment.
Catastrophe losses in P&C segment dropped to €206.9 million, below internal budget, supporting earnings despite soft property‑casualty pricing.
Return on equity rose to 21.2% from 16.1%, and April treaty renewal premiums grew 19% year‑on‑year.