Hannover Re P&C unit beats Q1 forecast despite losses

Quarterly operating profit at Hannover Re's P&C division
beat analysts' expectations by increasing 3.4 percent to
EUR309.8mn ($337.8mn) year-on-year, thanks to an uptick in
investment income, the carrier announced this morning.
Analysts had expected the first-quarter P&C Ebit figure to
come in at around EUR256mn, according to Barclays, but an
annualised investment return of 3.1 percent pushed the income from
assets under management to EUR320mn, 13.2 percent higher than this
time last yea