Hannover Re posts FY net income of €1.23bn as 1.1 rate momentum slows to 4.1%

German reinsurance giant Hannover Re has reported net income of €1.23bn ($1.39bn) in its preliminary figures for 2021 – up from €883mn in 2020 – with risk-adjusted price increases of 4.1 percent at 1 January driven by rate rises in Europe as well as for catastrophe and cyber covers.