Reinsurance News
Hannover Re
Hannover Re is one of the largest reinsurance companies in the world. Hannover Re transacts all lines of property and casualty and life and health reinsurance, operating globally and providing meaningful limit to its clients.
Hannover Re was founded in 1966 and went public in 1994 and operates a worldwide network of subsidiaries, branches and representative offices underwriting business such as facultative, direct and catastrophe XoL reinsurance business in the P&C market, as well as life, health, annuity and personal accident reinsurance business.
Read all our Hannover Re reinsurance news below.
Hannover Re’s aggregate XoL retro cover shrinks by almost 50% at Jan renewal
7th February 2022
For 2022, the size of Hannover Re's aggregate excess-of-loss (XoL) worldwide retrocession reinsurance layer has decreased by almost 50% to approximately €113 million, as the German reinsurer navigated more challenging retro market conditions at the January 1st renewals. As forecast towards the end of last year, aggregate retro capacity was harder ... Read the full article
Talanx Group’s net income tops €1 billion for the first time
4th February 2022
Germany's Talanx Group, the parent of reinsurer Hannover Re, has announced that in 2021, its net income exceeded the €1 billion threshold for the very first time, supported by increased earnings across its primary business and reinsurance operation. Back in 2018, Talanx published a number of goals for the period up ... Read the full article
Hannover Re expects improved rate trends to persist at upcoming renewals
3rd February 2022
Sven Althoff, Board Member for Property and Casualty (P&C) at global reinsurer Hannover Re, said this morning that the company expects the "broad trend of improved rates will continue to apply both at the insurance and at the reinsurance level" at the April and mid-year renewals. Early this morning, Hannover ... Read the full article
Hannover Re grows book by 8.3% at Jan 1 reinsurance renewals
3rd February 2022
German reinsurance giant Hannover Re achieved average inflation and risk-adjusted price increases of 4.1% at the January 1st, 2022, reinsurance renewals, as the company grew its book by 8.3%. Hannover Re notes the influence of considerable natural catastrophe losses on market pricing, especially in Europe and North America, alongside the low ... Read the full article
Fitch highlights strong 9M earnings from Europe’s top 4 reinsurers
15th November 2021
Europe’s four biggest reinsurers are said to have demonstrated strong earnings improvements over the course of 2021’s first nine months, despite what was a period of heavy catastrophe losses for the sector. Fitch Ratings' analysts explained how Munich Re, Swiss Re, Hannover Re and SCOR all posted ... Read the full article
Hannover Re sheds stake in HDI as firm underlines ‘pure reinsurer’ focus
11th November 2021
Global reinsurer Hannover Re has announced the sale of its 49.8% stake in joint venture HDI Global Specialty SE to majority shareholder HDI Global SE. The deal underscores Hannover Re’s overarching ambition of repositioning itself as a pure reinsurer. Concurrently, the sale is seen as a way to free up capital for ... Read the full article
Hannover Re’s 9M net income hits €856m despite above-budget major losses
4th November 2021
Global reinsurer Hannover Re has reported a 28% rise in net income for the first nine months of 2021 to €856 million, despite catastrophe losses in the third quarter pushing the firm's major loss expenditure above budget. Across the business, gross written premium (GWP) increased by 12% in the first nine ... Read the full article
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
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