In H1’26, Group reinsurance revenue fell by 3.1% to €12.9 billion, although growth would have been 0.7% at unchanged exchange rates. Underwriting profitability was strong with a Group reinsurance service result of €1.7 billion, up on the prior year’s €1.4 billion. The segment’s net reinsurance service result totalled €478 million in H1’26, an increase of 7.5% on the prior year’s €444.5 million. The operating result in L&H reinsurance declined by 13.1% to €408.2 million, compared with €469.9 million a year earlier. “The very good half-year result puts Hannover Re in an excellent position.