October 19, 2017 / 9:10 AM / 2 years ago

Hannover Re expects no 2017 earnings growth due to hurricanes

MUNICH, Oct 19 (Reuters) - Hannover RE does not expect its earnings per share (EPS) to increase in 2017 due to payouts related to damage done by hurricanes which hit the United States in recent weeks.

However, next year, the company expects its EPS to increase by more than 10 percent, Chief Executive Ulrich Wallin said at an investor day on Thursday.

Slides prepared for the investor day earlier in the day still showed targets for at least 6.5 percent this year and at least 5 percent in 2018.

However, those figures were outdated due to the hurricanes, which will likely also prompt Hannover Re to increase its budget for major natural disasters in 2018, Wallin said. (Reporting by Alexander Hübner; Writing by Arno Schuetze; Editing by Maria Sheahan)

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