The German reinsurer, which reported a two percent rise in second-quarter profits yesterday, thanks to low damage claims and high prices for reinsurance cover, said in a Reuters story that it was too early to say whether it was an interesting candidate.

Chief financial officer Elke Koenig told Reuters in an interview that Hannover Re would look at acquiring troubled reinsurer Scottish Re, which provides reinsurance for life insurance, annuities and annuity-type products.

Scottish Re?s CEO has resigned and the company reported a wider-than-expected loss in the second quarter. It has also suffered a ratings downgrade and has hired financial advisors to look at ?strategic alternatives?, which often means that part or all of the company will be put for sale.

?We are looking at Scottish Re just like any other opportunity,? Koenig said, adding however that internal growth remained the priority for Hannover Re.

Hannover, the world?s fourth-largest reinsurer, posted a net profit of 150.8 million euros ($194 million) in the second quarter, which compared with an average forecast of an 18 percent decline to 121.3 million euros in a Reuters poll of analysts. Like rival reinsurers such as Swiss Re and Munich Re , Hannover Re was helped by a lack of big damage claims in the second quarter and continuing high prices for reinsurance cover in the wake of last year?s hurricanes in the United States.

The company repeated its aim of achieving a 15 percent return on equity this year, or the equivalent of at least 450 million euros in net profit.

Hannover Re said prices and conditions in property and casualty reinsurance remained good and that it had been able to double prices in July insurance renegotiations for some US business that had been hit by hurricanes last year.