Reinsurance News

Hannover Re

Hannover Re’s E+S Rück expects rising reinsurance prices in Germany

18th October 2021

E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the Group's German business, is anticipating appreciable adjustments to reinsurance prices and conditions in the property market in Germany following catastrophic weather events in the country. In Germany alone, low pressure system 'Bernd' is expected to drive insurance industry losses of more ... Read the full article

Hannover Re commits to net zero targets in reinsurance & investments

13th October 2021

Hannover Re is committing to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050, as part of its targets to support the Paris Agreement on climate change. The reinsurer plans to develop methods to determine the greenhouse gas emissions of reinsured customer ... Read the full article

Hannover Re to explore advanced underwriting with Dublin-based R&D project

1st October 2021

Global reinsurer Hannover Re plans to invest over €6 million in Dublin Digital – a research and development (R&D) programme aimed at delivering a competitive edge via next generation d underwriting. To facilitate this, the company plans to create up to 16 positions in Dublin over the next 3 to 4 ... Read the full article

Further reinsurance price adjustments are ‘unavoidable’, says Hannover Re

13th September 2021

Global reinsurer Hannover Re expects further price increases in property and casualty reinsurance and improvements in terms and conditions in 2022, as heightened risk awareness drives greater demand for high-quality protection. "In property and casualty reinsurance there is a need for further rate increases. Only in this way will reinsurers be ... Read the full article

Europe’s major reinsurers grew 11% at mid-year 2021 renewals: Litmus Analysis

2nd September 2021

Europe's four major reinsurers renewed roughly €12 billion of treaty premium at the mid-year 2021 reinsurance renewals, with an average risk-adjusted price increase of 2.1%, according to research from Litmus Analysis. The €12 billon of renewed treaty premium represents growth of 11%, which is an improvement on the 5% growth recorded ... Read the full article

Hannover Re’s H1 profit rises as P&C result offsets COVID losses in L&H

5th August 2021

Global reinsurer Hannover Re has reported Group net income of €670.6 million for the first half of 2021, supported by a significant improvement in the performance of its property and casualty (P&C) business, somewhat offset by COVID-19 losses of €236.4 million in its life and health (L&H) operation. For H1 2021, ... Read the full article

Penn River partners with Hannover Re US

8th June 2021

Penn River has entered into a partnership with Hannover Life Reassurance Company of America, the US life and health reinsurance subsidiary of Hannover Re. The partnership will enable Penn River to launch a reinsurance addition to its ProductHub platform. This addition to the platform gives its clients the ability to integrate with ... Read the full article

Life reinsurers hit with $4.4bn of COVID-19 claims in Q1, says Bloomberg report

1st June 2021

According to a new report from Bloomberg, the cumulative cost of COVID-19 claims for the largest life reinsurers hit $4.4 billion in the first quarter of the year as mortality rates spiked. The biggest costs for life reinsurers came from the US and to a lesser extent the UK and Canada ... Read the full article

IDF program looks to develop parametric solutions in Colombia

18th May 2021

Public-private partnership the Insurance Development Forum (IDF) has launched a program aimed at developing a parametric flood and earthquake product, as well as an indemnity landslide protection, in Colombian city of Medellín. The project includes participation from IDF members Hannover Re and Willis Towers Watson and t is part of the ... Read the full article

Talanx reports 24.5% net income climb in Q1

11th May 2021

Hannover Re parent Talanx Group saw net income climb 24.5% to $277 million during the first quarter of 2021. Gross written premiums rose by 9.4% to €13.6 billion, while operating profit amounted to €625 million, up 11.8% compared to the prior-year quarter Talanax attributes these increases to positive one-off effects in both ... Read the full article

Hannover Re improves P&C results, confirms profit targets for 2021

5th May 2021

Hannover Re, one of the major European reinsurers, has confirmed its profit targets for 2021 after posting double-digit growth in premium income in the first quarter, as well as modestly improved group net income. Gross premiums were up by 11.9%, or 16.8% adjusted for exchange rate effects, while net income increased ... Read the full article

Major re/insurance players commit $2mn to Oasis Loss Modelling Framework

23rd March 2021

A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article

Hannover Re in £3bn longevity swap with AXA UK Pension Scheme

18th March 2021

Hannover Re has entered into a longevity swap transaction with the AXA UK Group Pension Scheme, which will protect £3 billion of mostly deferred pension liabilities held in the Scheme’s Defined Benefit plan. The swap, which closed on 27 February 2021, will form part of the Scheme’s investment portfolio, building upon ... Read the full article

Swiss Re & Hannover Re warn of COVID-19’s claim tail & litigation risk

17th March 2021

Two of the world's largest reinsurance firms are warning that while the immediate losses caused by the global COVID-19 coronavirus pandemic may be largely reserved for, both expect a longer-tail of exposure to develop over time. There is great uncertainty over the potential for the COVID-19 pandemic to drive losses to ... Read the full article

Talanx falls to underwriting loss on €2.1bn of large losses

15th March 2021

Talanx, the parent of major European reinsurance company Hannover Re, has reported an underwriting loss of €2.8 billion for 2020 amid total large losses of a significant €2.1 billion, driven mostly by the coronavirus pandemic. The company's underwriting performance deteriorated further from the €1.8 billion loss reported in 2019, as the ... Read the full article

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