Hannover Re is seeking to reach its goal within one to two years, says Vogel, and is on track to reach its target of earning net profits of 600 million euros ($760 million) this year, Vogel said in an interview with a German newspaper.
According to Vogel, Hannover's equity investments are currently close at almost zero, having slashed them during the financial crisis. The reinsurer's strategy was to invest in building out its reinsurance business in 2009 rather than jump back into equities, Vogel said.
Over the next two years, the reinsurer's investment in real estate is also expected to grow by 4-5%, he said.
"The proportion of investments in fixed income should fall to around 80 percent as a result of the equity and property purchases," Vogel told the paper.