Hannover Rueck (DE:HNR1)
XETRA:HNR1
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Hannover Rueck
(XETRA:HNR1)
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Rating:74Outperform
Price Target:
€293.00
▲(7.72% Upside)
Action:UpgradedDate:03/15/26
The score is driven primarily by solid financial strength (healthy profitability, rising ROE, and improving leverage), partially offset by volatility and data/anomaly flags in 2025 cash flow and operating metrics. Technicals add support with an uptrend and positive momentum, while valuation is a tailwind given the moderate P/E and solid dividend yield.
Positive Factors
Rising ROE and profitability
A sustained increase in ROE to ~20% signals improving capital efficiency across underwriting and investments. For a reinsurer this indicates disciplined pricing and reserve management, supporting durable earnings power and the ability to generate shareholder returns over the next several quarters.
Negative Factors
2025 FCF and EBIT anomalies
Reported zero FCF and EBIT/EBITDA in 2025 indicate a data or one-off accounting swing that undermines trend visibility. Such anomalies hinder reliable cash-based forecasting and complicate assessment of sustainable earnings and capital generation over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Rising ROE and profitability
A sustained increase in ROE to ~20% signals improving capital efficiency across underwriting and investments. For a reinsurer this indicates disciplined pricing and reserve management, supporting durable earnings power and the ability to generate shareholder returns over the next several quarters.
Read all positive factors
Hannover Rueck (HNR1) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€32.80B
Dividend Yield3.37%
Average Volume (3M)112.70K
Price to Earnings (P/E)12.2
Beta (1Y)0.70
Revenue Growth2.57%
EPS Growth9.75%
CountryDE
Employees3,895
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)5.61
Shares Outstanding120,597,140
10 Day Avg. Volume124,930
30 Day Avg. Volume112,700
Financial Highlights & Ratios
PEG Ratio0.91
Price to Book (P/B)2.48
Price to Sales (P/S)1.20
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€299.14Price Target Upside9.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)22.94
Revenue Forecast (FY)€27.80B
Hannover Rueck Business Overview & Revenue Model
Company Description
Hannover Rück SE, together with its subsidiaries, provides reinsurance products and services worldwide. It operates through Property & Casualty Reinsurance, and Life & Health Reinsurance segments. The company offers property, casualty, facultative...
How the Company Makes Money
Hannover Rueck makes money primarily through (1) underwriting income from reinsurance and (2) investment income on the assets it holds to pay future claims. Underwriting income is generated by collecting reinsurance premiums from insurance compani...
Hannover Rueck Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.80B | 2.66B | 21.98B | 1.39B | 26.28B |
| Gross Profit | 26.80B | 2.53B | 21.35B | 1.31B | 26.28B |
| EBITDA | 0.00 | 3.37B | 2.01B | 1.44B | 1.71B |
| Net Income | 2.64B | 2.33B | 1.82B | 780.80M | 1.23B |
Balance Sheet | |||||
| Total Assets | 71.33B | 72.13B | 65.67B | 62.96B | 82.90B |
| Cash, Cash Equivalents and Short-Term Investments | 1.05B | 57.39B | 1.05B | 48.81B | 49.19B |
| Total Debt | 4.14B | 4.67B | 4.88B | 5.51B | 4.37B |
| Total Liabilities | 57.40B | 59.44B | 54.65B | 53.00B | 70.15B |
| Stockholders Equity | 12.93B | 11.79B | 10.13B | 9.06B | 11.89B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 5.68B | 5.79B | 4.95B | 4.94B |
| Operating Cash Flow | 5.69B | 5.68B | 5.79B | 4.95B | 4.94B |
| Investing Cash Flow | -4.05B | -4.41B | -4.51B | -5.08B | -5.26B |
| Financing Cash Flow | -1.72B | -1.10B | -1.50B | 44.30M | 277.51M |
Hannover Rueck Technical Analysis
Positive
272.00
Price Trends
253.16
Positive
253.57
Positive
255.33
Positive
Market Momentum
4.61
Negative
65.01
Neutral
86.72
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HNR1, the sentiment is Positive. The current price of 272 is above the 20-day moving average (MA) of 262.05, above the 50-day MA of 253.16, and above the 200-day MA of 255.33, indicating a bullish trend. The MACD of 4.61 indicates Negative momentum. The RSI at 65.01 is Neutral, neither overbought nor oversold. The STOCH value of 86.72 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:HNR1.
Hannover Rueck Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €32.80B | 12.16 | 21.53% | 3.37% | 2.57% | 9.75% | |
74 Outperform | €72.09B | 11.92 | 18.94% | 3.56% | 0.48% | 11.17% | |
74 Outperform | €29.35B | 11.85 | 19.71% | 2.37% | 3.70% | 24.02% | |
71 Outperform | €143.18B | 13.65 | 17.77% | 3.94% | 25.33% | 12.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
DE:HNR1
Hannover Rueck
276.80
22.99
9.06%
DE:ALV
Allianz
378.30
62.91
19.95%
DE:MUV2
Munich Reinsurance
555.00
17.29
3.22%
DE:TLX
Talanx AG
114.70
26.72
30.37%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.