Reinsurance News

Hannover Re

Talanx posts record €923mn net income for 2019 despite large losses

16th March 2020

Talanx, the parent company of Hannover Re, generated a record net income of €923 million during 2019 despite higher-than expected large losses. Total large losses amounted to €1.3 billion, due above all to events in non-life reinsurance. €363 million of this figure was attributable to primary insurance, while reinsurance accounted for the ... Read the full article

Hannover Re puts P&C coronavirus exposure at €200mn

12th March 2020

German reinsurer Hannover Re has estimated that its maximum exposure to coronavirus losses on the property and casualty (P&C) side of its business is around €200 million. Speaking alongside the release of the company’s 2019 results, executives explained that Hannover Re could see costs related to business interruption and cancellation ... Read the full article

Nat cat losses stunt Hannover Re’s P&C performance

11th March 2020

Global reinsurer Hannover Re has posted a net income of €1.28 billion for 2019, a 21.2% increase from the previous year, despite significant property and casualty reinsurance losses. The largest loss was hurricane Dorian at a net cost of €194.7 million. Typhoons Hagibis and Faxai caused further expenditure of €183.8 million ... Read the full article

Hannover Re’s parent Talanx announces record results in 2019

6th February 2020

Talanx, the parent company of German reinsurer Hannover Re, has announced record results of €923 million (roughly USD 1 billion) in 2019, driven in part by an extremely strong performance within its reinsurance segment. Based on preliminary unaudited consolidated figures, the Talanx's earnings jumped by approximately 30% from the €703 million ... Read the full article

Hannover Re exposure to coronavirus not significant, says CEO

5th February 2020

Hannover Re does not anticipate any significant exposure to losses that could stem from the ongoing coronavirus outbreak, according to its Chief Executive Officer (CEO), Jean-Jacques Henchoz. While it remains too early to assess losses, Hannover Re’s management is confident that the company has limited exposure to pandemic risk in Asia, ... Read the full article

Hannover Re posts 2.3% rate rise at ‘solid’ January renewal

5th February 2020

Reinsurance giant Hannover Re expects to generate net income of around €1.28 billion in 2019 and grew its premium volume in traditional property and casualty reinsurance by 14% at January 1 renewals, with the price increase for the renewed business amounted to 2.3%. At 15.5%, the strongest growth in the renewals ... Read the full article

Top reinsurers’ exposure to Wuhan coronavirus, Asia pandemic analysed

23rd January 2020

With official numbers of the Wuhan coronavirus currently standing at 585 confirmed infected and 17 dead, Morgan Stanley analysts have detailed the extent to which the top four European global reinsurers are exposed to pandemic risk in Asia. As of 2018, Munich Re wrote €2.3 billion in premiums in Asia via ... Read the full article

Against its peers, Hannover Re is the main beneficiary from P&C rate rises: MS

15th January 2020

Analysis of Europe's big four reinsurers by Morgan Stanley (MS) states that when compared with its peers, German reinsurance giant Hannover Re is the main beneficiary from improving property and casualty (P&C) rates. In a recent industry report, analysts at Morgan Stanley discuss the current rate environment following the January 1st ... Read the full article

Hannover Re backs parametric disaster fund for developing markets

9th December 2019

Hannover Re has committed $50 million of capacity to a new risk transfer fund for natural disasters, developed in partnership with the German government and Global Parametrics, a provider of parametric protection in developing markets. The NDF Deutschland has also secured initial commitments of €25 million from the German Federal Ministry ... Read the full article

Hannover Re’s parent Talanx reports 52% rise in net income

11th November 2019

The Talanx Group, which is the parent of reinsurance giant Hannover Re, has produced net income of €742 million for the first nine months of 2019, while the group-wide combined ratio remained relatively flat at 98.5%. Net income of €742 million represents growth of 52% on the same period in 2018, ... Read the full article

Hannover Re misses CR target as large losses dent Q3 results

6th November 2019

German reinsurer Hannover Re has posted strong growth in its net income over the first nine months of 2019, but its combined ratio (CR) missed targets due to the large losses incurred during the third quarter. At September 30, Hannover Re’s net income for 2019 stood at €1.0 billion, representing a ... Read the full article

Hannover Re’s E+S Rück sees positive rate development in Germany in 2020

21st October 2019

Improved conditions in Germany's primary insurance sector, coupled with increased demand for reinsurance protection in certain lines of business is expected to drive positive premium development across the German market in 2020, according to E+S Rückversicherung AG, Hannover Re's German business subsidiary. At the reinsurance industry meets in Baden-Baden this week, ... Read the full article

Talanx partners with intelligent automation firm WorkFusion

9th October 2019

Talanx Group, the parent of reinsurance giant Hannover Re, has entered into a strategic partnership with New York-based intelligent automation and robotic process automation software firm, WorkFusion. It’s hoped the agreement will accelerate end-to-end digitisation of core business processes, starting with HDI Germany. “We are thrilled to partner with Talanx Group and ... Read the full article

Improved reinsurance conditions to persist and on a wider scale: Althoff, Hannover Re

9th September 2019

More rational behaviour was evident across the reinsurance industry at the mid-year renewals and it’s expected that reinsurance prices and conditions will continue to improve through 2019 and into 2020, according to member of Hannover Re’s executive board, Sven Althoff. In an interview with Reinsurance News, Sven Althoff discussed the response ... Read the full article

Re/insurance had a more “pleasing” turn in 2019, says Hannover Re

9th September 2019

While re/insurers continue to be impacted by surplus capacities and historically low interest, A report from Hannover Re notes how the industry has had an ”appreciably more pleasing turn in 2019.” Particularly on the primary side, Hannover Re said broadly modest improvement can be observed across the industry and in some ... Read the full article

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