Hannover Ruck SE (HVRRY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the conference call on Q2 2026 results. I'm Sergen, the course call operator. I would like to remind you that all participants will be in a listen-only mode and the conference being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and one on your telephone. For operator assistance, Please press start zero. Unauthorized recordings for publication or broadcast are not permitted. At this time, it's our pleasure to hand over to Karl Steindl. Please go ahead, sir. Good morning, everyone, and welcome from sunny Hanover to our earnings call and our results for the first half year of 2026. Today's speakers are, as always, Clemens Jungstörsel, our CEO, and Christian Hermanningmeier, our CFO. And for the Q&A, they are joined by Claude Schaebre and Svend Alshoff. With that, I hand over to you, Clemens. Thank you, Karl. And good morning, everyone from Hanover. So let's start with slide four. So Hanover East's business performance has been very satisfactory in the first half of 2026. We have seen, I'd say, a continuation of The positive developments from recent quarters, particularly the underlying profitability in the business, was very pleasing in both business groups. Our balance sheet and the resilience have been further strengthened. The market environment in P&C reinsurance was characterized by benign losses from natural catastrophes. Nevertheless, I think it's fair to say this is simply good luck if you like, for the insurance industry. The earthquakes in Venezuela, recently in Japan, as well as extreme weather with heavy rain, heat waves, wildfires, they all serve as a reminder that this does not reflect any change in the risk landscape. On the contrary, risks are inc...