Hannover Re (HNR1.DE) stock forecast 2027–2029
What is the Hannover Re (HNR1.DE) stock forecast?
Our forecast for Hannover Re
€277.47by November 2027
€285.09by November 2029
From €297.20 at the November 10, 2026 close, that is a 2 % loss by 2027 and a 9 % gain by 2029, dividends included.
It blends three cases for November 2027, € per share:
- Bear21827 % chance
- Base28954 % chance
- Bull32919 % chance
Our own forecast, built from Hannover Re's filings. It is not an average of analysts' price targets, so it can differ from them.
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Executive summary + 8 chapters · 19,041 words · 152 sources
Hannover Re (HNR1.DE) key numbers
Market value is what all the shares are worth together. P/E, price to profit, is how many years of expected profit the price equals. Price to book is what buyers pay for each unit of the company's net worth on its books. Dividend yield is a year of dividends as a share of the price.
- €35.8 billionmarket value
- 12.5xP/E on the profit our report expects over the next 12 months
- 2.6xprice to book value
- 4.2 %dividend yield
Prices and ratios: our report, at the November 10, 2026 close.
Where could Hannover Re’s shares be by November 2029?
Our weighted price is €277.47 in November 2027, a 2% loss including dividends. It reaches €285.09 in November 2029, a 9% gain including dividends. Bear probability is 27%. Base probability is 54%, and bull probability is 19%.
The forecast points to a near-term pause followed by a modest three-year gain. The probability-weighted price is €277.47 in November 2027, a 2% loss including dividends. It remains €277.47 in November 2028, a 2% gain. By November 2029 it reaches €285.09, a 9% gain.
What has to go right or wrong for Hannover Re?
The bear case requires renewal prices to keep falling while excess capacity weakens the profit pipeline. A severe catastrophe or further reserve strengthening then reduces earnings and solvency, causing investors to pay less for each euro of profit. The path reaches €217.67 in November 2027 and €164.18 in November 2029. The forecast assigns it 27% because lower renewal prices and weaker CSM are already visible, although the 242% solvency ratio and strong nine-month result reduce the chance of a sustained collapse.
The bull case requires Hannover Re to reject underpriced business while competition eases before weaker new-business economics damage the book. Manageable catastrophe losses, higher investment income and ample capital then support both earnings and the P/E. The path reaches €328.78 in November 2027 and €428.37 in November 2029. Its probability is 19% because this outcome needs several favourable conditions at once, while renewal prices have already declined.
Bull case, 19 % chance: if it goes right
€428.37 by November 2029, +58 % with dividends.
Bear case, 27 % chance: if it goes wrong
€164.18 by November 2029, −33 % with dividends.
How much cash does Hannover Re really make and give back?
Premiums arrive before many claims are paid, so the group invests them to support future obligations. Operating activities produced €5,686.9 million of cash in 2025 while investing activities used €4,030.2 million. That difference funds claims, collateral and reserves as well as possible distributions.
What does an investor pay today for Hannover Re?
Our report makes no buy or sell call.
- P/E, last 12 months12.9x
- Dividend yield4.2%
Questions about Hannover Re (HNR1.DE) stock
Where will Hannover Re stock be in 5 years?
Our report's forecast goes to November 2029. By then it puts the shares between €164.18 in the bear case and €428.37 in the bull case, and at €285.09 with the three cases weighted by their chances. It makes no forecast past November 2029.
Does Hannover Re pay a dividend?
Yes. At the November 10, 2026 close, a year of dividends came to 4.2 % of the share price (our report). Hannover Re dividend →
Who are Hannover Re's competitors?
Our report compares Hannover Re with Everest and Arch.
Why is this forecast different from analysts' price targets?
Analysts' price targets average the share prices that brokerage analysts expect. Our report builds its own three cases from Hannover Re's filings, gives each a chance and counts dividends.
More on Hannover Re (HNR1.DE)
More Hannover Re pages
Hannover Re's own filings
This page gives the forecast. The report gives the reasons.
The full report: an executive summary and 8 chapters, 19,041 words, 55 tables. Its first page opens here, no account needed.
How it is made: AI reads Hannover Re's filings, writes the report, checks the numbers against them and cites each source, 152 in this one. How we work · Corrections
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Information only, not investment advice. The forecast gives three cases with their chances; it promises no price. Prices are those of the date shown.