0827 GMT - The upgrade in Hannover Re's net income guidance for 2025 and the issuance of a 2026 floor target is pleasing, Jefferies says in a research note. The German reinsurer now expects net income to be around 2.6 billion euros this year, up from around 2.4 billion euros previously, on the back of a strong performance in the first nine months. "Such strong profitability comes in spite of prudently booking natural catastrophe losses in line with budget (when losses are far below)," analysts Philip Kett and Derald Goh write. They also point to the guidance for at least 2.7 billion euros in net profit for 2026. This is 2% ahead of analysts' estimates and is more meaningful than it seems due to management's prudent track record. Shares rise 3.2%. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
November 10, 2025 03:27 ET (08:27 GMT)
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