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German reinsurance company, one of the world's largest, covering life/health and property-casualty risks.
German reinsurance company, one of the world's largest, covering life/health and property-casualty risks.
Takes on slices of other insurers' risk in return for a share of their premiums, mostly under treaties covering whole portfolios, and invests those premiums until claims are paid. Talanx, the German insurance group, owns the majority of the shares. Life and health reinsurance sits alongside property-casualty.
Moat: narrow (scale, brand). Third or fourth-largest global reinsurer with deep client relationships and diversified risk book.
Headquarters: Hanover, Germany · Founded: 1966 · Employees: 4,078
Size Hannover Rueck (HNR1.DE) is a Germany Financials company (Life/Health Insurance) with a market value of $39.6B, the 22nd largest of 205 Germany companies the cockpit tracks. Shares closed at €293.00 on 6 Nov 2026.
Performance Over six months the shares gained 24.1%, against +20.6% for the median peer and +2.6% for the Germany market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 2.1% over the last twelve months (peer median +11.5%); the operating margin is 13.5% (peer median 9.3%).
Valuation It trades at 2.66× book value against a peer median of 1.40× (6th most expensive of 20).
Price implies The share price implies a return on equity of about 8.3%; Hannover Rueck delivers 22.4%, so the price asks less than the business earns today.
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €28.6B | €28.8B | €28.7B | €26.3B | €25.7B |
| Revenue growth | — | 0% | +9% | +3% | — |
| Net income | €2.73B | €2.64B | €2.33B | €1.82B | €781M |
| Free cash flow | n/a | n/a | n/a | €5.79B | €4.95B |
| Capital expenditure | €0 | €0 | €0 | €0 | €0 |
| Total debt | €4.13B | €4.14B | €4.67B | €4.88B | €5.51B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Hannover Rueck HNR1.DE | $39.6B | +24% | -2% | 22% | 2.66× | 8.3% |
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% |
| Swiss Re SREN.SW | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% |
| Scor SCR.PA | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% |
| Reinsurance Group of America RGA | $17.1B | +24% | +20% | 12% | 1.25× | 8.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HNR1.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.7% | +2.4% | highest of 21 |
| 6-month return | +24.1% | +20.6% | 7th highest of 21 |
| Return on equity | 22.4% | 12.8% | highest of 21 |
| Price / book | 2.66× | 1.40× | 6th most expensive of 20 |
| Trailing P/E | 12.9× | 11.7× | 9th most expensive of 20 |
| ROE the price implies | 8.3% | 9.6% | 9th least demanding of 19 |
| ROE delivered | 22.4% | 13.1% | highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Hannover Rueck HNR1.DE | Germany | $39.6B | +24% | -2% | 22% | 2.66× | 8.3% | 22.4% |
| Japan Post Hldgs 6178.T | Japan | $39.0B | +24% | 0% | 5% | 0.62× | 4.4% | 4.5% |
| Daiichi Life 8750.T | Japan | $39.0B | +18% | +17% | 14% | 1.34× | 8.1% | 13.6% |
| Prudential Financial PRU | United States | $41.1B | +20% | +4% | 13% | 1.39× | 11.4% | 12.6% |
| Talanx TLX.DE | Germany | $37.6B | +24% | +2% | 20% | 2.33× | 10.2% | 19.8% |
| Cathay Financial Hldg 2882.TW | Taiwan | $47.0B | +42% | -16% | 15% | 1.40× | 7.0% | 14.6% |
| Swiss Life SLHN.SW | Switzerland | $33.0B | +14% | 0% | 20% | 4.25× | 15.4% | 20.0% |
| Bajaj Finserv BAJAJFINSV.NS | India | $31.6B | +2% | +17% | 13% | 3.55× | 54.3% | 13.3% |
| Samsung Life 032830.KS | South Korea | $31.0B | -6% | +13% | 3% | 0.29× | 4.5% | 3.2% |
| Life Insurance Corp. of India LICI.NS | India | $53.0B | -3% | +11% | 7% | 0.68× | 11.8% | n/a |
| NN Group N.V. NN.AS | Netherlands | $22.4B | +4% | +39% | 9% | 1.08× | 6.9% | 9.2% |
| Manulife Financial MFC.TO | Canada | $72.2B | +13% | +18% | 13% | 2.22× | 13.0% | 12.9% |
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | Germany | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% | 21.4% |
| SBI Life Insurance SBILIFE.NS | India | $18.9B | -5% | +18% | 14% | 8.72× | 105.4% | 13.7% |
| Kgi Financial 2883.TW | Taiwan | $17.3B | +60% | +32% | 14% | 1.33× | 7.1% | 14.4% |
| Reinsurance Group of America RGA | United States | $17.1B | +24% | +20% | 12% | 1.25× | 8.0% | 11.7% |
| Corebridge Financial CRBG | United States | $14.9B | +25% | +10% | 22% | 2.41× | 19.3% | 21.7% |
| Equitable EQH | United States | $14.1B | +24% | +6% | -183% | n/a | n/a | n/a |
| T&d 8795.T | Japan | $14.0B | +21% | +6% | 9% | 1.32× | 5.6% | 9.3% |
| HDFC Life Insurance HDFCLIFE.NS | India | $13.0B | -10% | +19% | 11% | 6.31× | 72.0% | 11.2% |
| Standard Life SDLF.L | United Kingdom | $12.5B | +25% | +135% | -179% | 38.09× | n/a | -179.3% |