Reinsurance News
Hannover Re
Hannover Re’s net income climbs in 2018 despite challenges
7th March 2019
Reinsurance giant Hannover Re has reported net income of €1.06 billion for 2018, up 10.5% year-on-year as the firm achieved solid results in spite of challenging conditions and high levels of catastrophe losses. During 2018, the reinsurer increased its gross premiums by 7.8% to €19.2 billion, with growth occurring in both ... Read the full article
Hannover Re adds Silke Sehm to Executive Board
6th March 2019
The Supervisory Board of Hannover Re has appointed Silke Sehm as a full member of the Executive Board with immediate effect. Sehm takes responsibility for French-speaking and Nordic markets in Europe as well as Central and Eastern Europe and catastrophe business. She joined Hannover Re in 1996 as an underwriter for property ... Read the full article
Jeff Burt named President of Hannover Re US
21st February 2019
Hannover Life Reassurance Company of America (Hannover Re US), a division of German-based reinsurance giant Hannover Re, has promoted Jeff Burt to President. The appointment sees Burt take responsibility for the reinsurer's life and health reinsurance operations in the U.S. He first joined Hannover Re US roughly 16 years ago as Vice ... Read the full article
Hannover Re’s Glencar Insurance receives A+ rating from A.M. Best
14th February 2019
Glencar Insurance Company (GIC), a newly established subsidiary of German reinsurer Hannover Re, has received a financial strength rating of A+ (Superior) from A.M. Best. The rating agency also assigned GIC a long-term issuer credit rating of “aa”, in addition to a stable outlook. A.M. Best explained that the ratings reflected GIC’s ... Read the full article
Pricing insufficient to account for climate and higher cats: Wallin, Hannover Re
6th February 2019
Ulrich Wallin, the Chief Executive Officer (CEO) of reinsurance giant Hannover Re, has underlined the fact that climate change is not included within current catastrophe pricing, adding that pricing is not sufficient to deal with increased catastrophe losses. Hannover Re recently announced a solid January renewals season, which, keeps the ... Read the full article
Solid January renewals keeps Hannover Re on track for 2019 targets
5th February 2019
Reinsurance giant Hannover Re has announced Group net income of €1.05 billion for the 2018 financial year and is expecting higher net income for 2019. The reinsurer has also revealed that it grew its premium volume in traditional property and casualty reinsurance by more than 15% at the January 1st ... Read the full article
Hannover Re & HDI Global launch new specialty insurance venture
8th January 2019
HDI Global Specialty SE, a new specialty lines insurer launched as a collaborative venture between Hannover Re and HDI Global, commenced underwriting at the beginning of the year with premium volumes in excess of €1 billion. The insurer was formed after HDI Global and Hannover Re, which are both part of ... Read the full article
Liberty Mutual Re hires Uwe Haug from Hannover Re
7th January 2019
Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Uwe Haug as Head of Underwriting Strategy and Business Development for its global financial risks reinsurance business. Haug spent the previous two decades at Hannover Re, most recently leading its global specialty portfolio as General Manager for Northern, ... Read the full article
Reinsurance division performs well for Talanx in 2018
12th November 2018
Hannover Re's parent company, the Talanx Group, has reported that its reinsurance operation has strongly contributed to Group net income in 2018, which increased by 10% to €488 million. In fact, all divisions with the exception of Industrial Lines contributed to the Group's net income improvement, year-on-year, and the firm highlighted ... Read the full article
Hannover Re remains on target, despite using up major loss budget in Q3
8th November 2018
Global reinsurance player Hannover Re said this morning that it remains on target for its full-year profit, despite the impacts of catastrophe events in the third-quarter using up its full major loss budget. Hannover Re noted that its group net income was up by 32.1% at September 30th to EUR 725.3 ... Read the full article
Short-term policies will open new markets for life re/insurers: Hannover Re’s Laudato
5th November 2018
New categories of short-duration life insurance products will allow re/insurers to access new markets and pools of customers, according to Tony Laudato, Vice President of Partnership Solutions, Hannover Re US. Speaking in an interview with Reinsurance News, Laudato explained that short-duration policies, such as the one recently developed by Hannover ... Read the full article
Pickel to succeed Wallin as CEO of Hannover Re’s E+S Rück
23rd October 2018
Hannover Re has announced that Michael Pickel is to succeed Ulrich Wallin as Chief Executive Officer (CEO) of E+S Rück, the subsidiary responsible for the Group’s business in Germany. Pickel has been a member of the Executive Board of Hannover Re since 2000 and is currently responsible for the Group’s property ... Read the full article
Hannover Re expects modestly higher premiums and stable conditions in Germany
22nd October 2018
E+S Rück, a subsidiary of Hannover Re responsible for the group’s German business, continues to expect positive premium development in the country’s market for the upcoming round of treaty renewals as at 1 January 2019, albeit at a somewhat more muted pace than in the previous year. "Against the backdrop of ... Read the full article
Hannover Re helped clients secure $1.5bn from capital markets over 2018
17th October 2018
With the recent completion of its fifth catastrophe bond transaction, Hannover Re has helped its clients to secure more than US $1.5 billion of reinsurance capacity from the capital markets over 2018. The company’s latest transaction was a $125 million cat bond covering San Diego-based energy infrastructure company Sempra Energy against ... Read the full article
Hannover Re “takes advantage” of expanding alternative capital space: Henning Ludolphs
3rd October 2018
Germany-based reinsurance giant Hannover Re is embracing varied forms of alternative, or third-party reinsurance capital structures and solutions, and anticipates continued growth for the insurance-linked securities (ILS) sector in the future. Alternative reinsurance capital continues to grow its share of dedicated reinsurance capital, expanding to $95 billion during the first-quarter ... Read the full article
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