Hannover Re Targets Record Profit as Quarterly Net Rises 63%

Hannover Re Targets Record Profit as Quarterly Net Rises 63%

Sandy, the Atlantic superstorm that left 8.5 million homes and businesses without power after hitting New Jersey, New York and other East Coast states last week, may cost insurers and reinsurers, which shoulder some of the risks in return for a share of the premiums, $10 billion to $20 billion, according to Eqecat Inc., a provider of catastrophic risk models. Photograph: Victor J. Blue/Bloomberg