HANNOVER (dpa-AFX) - Hannover Re, the world's third-largest reinsurer, has once again pushed through higher premiums for its clients. In the treaty renewals as of January 1, the Dax-listed group achieved a price increase of 2.3 percent after deduction of inflation and changed risks, as it announced in Hannover on Wednesday. This did not dampen demand from primary insurers such as Allianz and Generali: Hannover Re increased its renewed premium volume by 6.9 percent to 10.2 billion euros.

The preliminary business figures for the previous year were more mixed. On balance, Hannover Re achieved its profit target of EUR 1.8 billion and earned more than ever before in its history. However, this was due to a one-off tax effect. Before interest and taxes (EBIT), the Group fell well short of analysts' expectations at just under two billion euros because it significantly increased its loss reserves at the turn of the year.

CEO Jean-Jacques Henchoz is confident for the current year, also thanks to the recent price increases: the bottom line profit is expected to rise to at least 2.1 billion euros as planned./stw/stk