Hannover Re beats Q2 consensus as profits rise 17.3%

Global reinsurer Hannover Re surpassed analysts'
expectations with its Q2 results, released this morning, with its
group operating profit up 17.3 percent year-on-year to EUR399.5mn,
beating analysts' prediction of EUR386mn.
Baader Helvea analyst Daniel Bischof attributed the beat to
better than expected foreign exchange effects, and a higher
investment income.
Net investment income rose 2.1 percent to EUR386.5mn, and return
on equity increased by 1.8 points to 12.1 percent.
Group top line also r