HANOVER (dpa-AFX) - Financial services provider, Hannover Rück SE (HNR1), Tuesday said it expects higher earnings for the full year.
For 2024, the company sees earnings of at least 2.1 billion euros, an increase of 24% than last year. However, the company believes it can be achieved only if the large loss expenditure remains under the budgeted amount of 1.825 billion euros, along with stable capital market.
The company's financial strategy for 2023-26 envisages EBIT growth of more than 5% and return on equity of more than 14%.
In the current financial strategy, which ends in 2023, the average growth is expected to exceed the targeted growth rate of at least 5% per year by the end of 2023, reflecting an increase in operating result (EBIT).
On Monday, Hannover's stock closed at 220.40 euros, up 0.82% on the XETRA.
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