UBS AG has raised its price target for Hannover Re from 238 euros to 267 euros, while keeping a "Neutral" rating ahead of the company's third-quarter results.
Analyst Will Hardcastle mentioned that the natural catastrophe budgets for the sector have been mostly used up, and the impact of Hurricane Milton is expected to be seen in the fourth quarter results.
Despite the challenges, there are signs of potential tariff improvements. Hardcastle recently highlighted Munich Re as his preferred choice among European reinsurers in an industry report.