"I would estimate that half of the fourth quarter budget has not been used yet," Vogel said. This makes Vogel confident that Hannover Re can post an €800 million net profit for 2017. The achievement of this profit result will be helped by the sale of all of Hannover Re's listed equity portfolio in the third quarter. The sale of the equity portfolio lifted the net investment results by 50 percent year on year to €603.1 million in the third quarter. The company made a €220 million profit through the asset sales, Vogel noted.