Claims only 10% of premiums despite €30m Air France costs
Hannover Re chief executive Ulrich Wallin is confident the firm will reach its target of a net profit of €600m after a good first half year, Reuters reports.
"Business in the first six months was good. We expect major claims to be under 10% of net premiums in the second quarter as well as stable returns from our capital investments,” he said
He said that insurers who had lost money in the financial crisis were buying more cover from reinsurers.
"The price increases in the reinsurance market have continued on June 1 and July 1 but not at the rate we expected."
Wallin said that he expected the Air France jet crash to cost the reinsurer €30m.
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