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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Hannover Rück
Hannover Rück (HNR1) investor relations material
Hannover Rück Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Q1–3 2026 net income rose 6.9% to €2.101bn and EBIT increased 16.5% to €2.912bn.
Strong underlying profitability across both business groups supported 21.1% ROE; reserve resilience increased.
Solvency II ratio was 242%, including foreseeable 2026 dividends pro rata and planned 2027 business growth.
FY 2026 net income guidance of at least €2.7bn was confirmed.
Financial highlights
Gross reinsurance revenue declined 1.0% to €19.516bn; at constant exchange rates it increased 1.1%.
Net reinsurance service result rose 8.0% to €2.58bn; net investment result increased 40.4% to €1.890bn.
EBIT increased 16.5% to €2.912bn; net income rose 6.9% to €2.101bn and diluted EPS was €17.42 versus €16.29.
Shareholders’ equity reached €13.668bn, up from €12.929bn at year-end 2025; book value per share was €113.34 versus €107.21.
Operating cash flow was €4.998bn in 9M 2026.
Outlook and guidance
FY 2026 net income guidance remained at ≥€2.7bn, assuming large losses do not significantly exceed the €2.3bn budget and no unforeseen capital-market distortions.
P&C traditional-business gross revenue is projected to grow at a mid-single-digit rate at constant exchange rates; combined ratio guidance remains below 87%, with a 9–10% discount effect assumption.
L&H net reinsurance service result target is ~€925m; investment return guidance is ~3.5%.
Further balance-sheet strengthening may be considered if large losses remain below expectations.
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Latest events from Hannover Rück
- Net income up 7% to EUR 1.4bn, combined ratio at 83.2%, outlook for at least EUR 2.7bn in 2026.HNR1
Q2 2026 - Net income up 47.9% to EUR 711m in Q1 2026, with strong margins and robust solvency.HNR1Q1 2026
- Net income up 13.4%, dividend rises nearly 39%, and 2026 guidance signals continued growth.HNR1Q4 2025
- Raised 2025 net income guidance to ~€2.6bn, with 21.2% ROE and strong capitalisation.HNR1Company presentation
- Net income rose 30.4% to EUR 1.82bn, prompting a raised 2024 outlook to EUR 2.3bn.HNR1Q3 2024
- Net income up 20.9% to €1.16bn, with strong P&C growth and 2024 guidance reaffirmed.HNR1Q2 2024
- 2025 guidance reaffirmed despite LA wildfire losses, with strong premium growth and disciplined renewals.HNR1Status Update
- Q1 net income EUR 480m, down 13.9%, but guidance and capital strength remain robust.HNR1Q1 2025
- Net income up 27.6% to EUR 2,329m, dividend up 25%, and solvency ratio at 261%.HNR1Q4 2024
Next Hannover Rück earnings date
CMD 202625 Nov, 2026
Hannover Rück
Next Hannover Rück earnings date
CMD 202625 Nov, 2026
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Frequently asked questions
Hannover Rück SE is a global reinsurance company offering property and casualty, as well as life and health reinsurance solutions. The company provides treaty and facultative reinsurance coverage to insurers worldwide, supporting risk management and capital efficiency. It operates through a decentralized network of subsidiaries and branches. Hannover Rück SE is headquartered in Hannover, Germany, and its shares are listed on the XETRA.