Hannover Re P&C profit jumps on improved underwriting

Fourth-quarter operating profit in the P&C segment at
Hannover Re climbed 10.5 percent to EUR447mn ($472mn), driven by an
improvement in underwriting performance.
The result was more than 10 percent ahead of the analyst
consensus of EUR404mn, according to Helvea equity analyst Daniel
Bischof.
In a note published this morning, he said: "In our view the
market will focus on the significant non-life reserve releases of
EUR804mn in 2016 which equals 60 percent of the segment's
[operating profit]