Germany's Hannover Rueck SE (ADR) HVRRY posted a 20 percent surge in its net profit for the first quarter.
The company's quarterly net profit climbed to 279.7 million euros ($311.8 million), versus a year-ago profit of EUR233 million. Analysts expected a profit of 237 million euros.
Gross premium revenue jumped 21 percent to EUR4.4 billion
Its net investment income rose 15 percent year-over-year to EUR415.7 million.
Hannover confirmed its earnings outlook for the year.
Hannover shares fell 4.60 percent to close at $48.51 yesterday.
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