Hannover Rück SE (HNR1) Fair Value & Analysis
Financial Services · DE · Market cap €30.7B
Fair value as of: Jul 18, 2026
From 25 valuation models · updated 20 days ago
Share price +1.2% over the past month.
A solid business, screening 13% undervalued on our models.
What matters now
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
- Our model range runs from €213.44 (bear) to €355.73 (bull), base €284.58. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 61/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range €113.73 – €270.56 · fair‑value band €213.44 – €355.73 · the €252.40 price screens below the €284.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Hannover Rück SE (HNR1) currently trades at €252.40, while our model-based Fair Value estimate is €284.58, implying the stock looks roughly 12.8% undervalued today. We read business quality at 61/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Hannover Rück SE generated revenue of €24.3B at a net margin of 11.8%. Revenue declined 22.8% year over year. It earns a return on equity of 21.7%. Net debt stands at €3.1B. Fundamentals as of Jul 18, 2026
Our scenario range runs from €213.44 (bear case) to €355.73 (bull case); at €252.40, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 7% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 100% fair-value upside, at 13%, HNR1 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 25 models by family
Widest divergence: DCF Models (€1,224) versus Asset-Based (€71.83). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Hannover Rück SE, together with its subsidiaries, provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally. It operates through Property & Casualty Reinsurance; and Life & Health Reinsurance segments.
Full company description
Hannover Rück SE, together with its subsidiaries, provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally. It operates through Property & Casualty Reinsurance; and Life & Health Reinsurance segments. The company provides property and casualty reinsurance solutions for agricultural, livestock, and bloodstock; aviation and space; natural catastrophe; credit, surety, and political risks; cyber; digital; marine and upstream energy; natural catastrophes; advanced and facultative business, insurance-linked securities and structured reinsurance; and parametric solutions. It also offers risk solutions in the areas of critical illness, disability, health, longevity, long term care, and mortality. In addition, the company offers group life, retirement, lifestyle, credit life, and Takaful reinsurance products. Further, the company provides various financial solutions, including new-business financing; monetization of embedded value; reserve and solvency relief; and reinsurance and solvency II businesses. The company was formerly known as Hannover Rückversicherung AG and changed its name to Hannover Rück SE in March 2013. Hannover Rück SE was founded in 1966 and is based in Hanover, Germany. Hannover Rück SE operates as a subsidiary of Talanx AG.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hannover Rück SE reported revenue of €26.8B in FY2025 versus €26.3B in FY2021, a compound +0.5%/yr. Reported net income was €2.6B in FY2025, compounding +21.0%/yr from FY2021.
Watch HNR1: get an alert when its fair value changes →
Peer Group
Insurance - Reinsurance · 28 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Reinsurance median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Insurance - Reinsurance stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| 1MUV2 1MUV2 | €500.40 | €669.36 | +34% |
| Swiss Re AG SREN | CHF 132.60 | CHF 218.88 | +65% |
| Reinsurance Group RGA | $241.79 | $234.55 | -3% |
| Everest Group EG | $364.13 | $522.67 | +44% |
| RenaissanceRe Holdings RNR | $314.99 | $629.98 | +100% |
| SCOR SE SDRC | €33.04 | €66.08 | +100% |
| General Insurance Corporation GICRE | ₹364.85 | ₹715.98 | +96% |
| China Reinsurance (Group) Corporation 1508 | HK$1.37 | HK$2.74 | +100% |
| Hamilton Insurance Group HG | $34.60 | $69.20 | +100% |
| SiriusPoint Ltd SPNT | $24.23 | $48.46 | +100% |
Compare Hannover Rück SE with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Financial Services stocks →
Frequently asked questions
Is Hannover Rück SE (HNR1) overvalued or undervalued?
What is the fair value of HNR1?
What is the quality score of HNR1?
What is the revenue of Hannover Rück SE (HNR1)?
What is the net profit margin of HNR1?
Does Hannover Rück SE pay a dividend?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Hannover Rück SE and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.