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.
Brexit not expected to dramatically impact reinsurance at Hannover Re: CEO, Wallen
10th May 2017
The Chief Executive Officer (CEO) of reinsurer Hannover Re, Ulrich Wallen, said during the firm's annual general meeting (AGM) that it doesn't expect the UK's Brexit vote to dramatically impact its reinsurance operations, reported Reuters. Domiciled in Germany, Hannover Re has a branch in the UK from which it writes property, casualty, ... Read the full article
Hannover Re maintains full-year net income target as it reveals Q1 results
10th May 2017
Reinsurance giant Hannover Re has reported a successful start towards achieving its full-year net income target in Q1, after kicking off the year with an optimistic move to raise the guidance for group net income from €950 million to over €1 billion. In Q1, Hannover Re's gross written premium rose by 6.6% ... Read the full article
Hannover Re pays £142.5 million for Argenta: Reports
22nd March 2017
Germany domiciled reinsurance giant Hannover Re reportedly paid £142.5 million to acquire UK holding firm Argenta Holdings, according to a recent heraldscotland.com article. The acquisition of Argenta Holdings, the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121, was announced ... Read the full article
Hannover Re acquires Lloyd’s firm Argenta Holdings
20th March 2017
Hannover Re has agreed to acquire UK holding firm Argenta Holdings - the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. According to Argenta, Lloyd’s Syndicate 2121 has a stamp capacity for 2017 of £300 million. The firms ... Read the full article
European reinsurers disciplined in a tough market: Fitch
17th March 2017
Large European reinsurers continued to show discipline in a very challenging marketplace and broader economic environment in 2016, as reserve releases declined and companies reported a reduction in renewed business, according to the latest European reinsurance market report from Fitch Ratings. The profitability of European reinsurers remained pressured throughout 2016, with Fitch ... Read the full article
Major reinsurers combined ratios over 100% on normalised basis: Fitch
16th March 2017
On a normalised basis major European reinsurers combined ratios were over 100% last year, but industry players benefitted from unusually favourable circumstances with lower-than-expected major losses and large prior year reserve releases meaning carriers maintained resilience in a tough market, according to Fitch. This normalised combined ratio rate of over 100% means under ... Read the full article
Hannover Re focuses on profits not premium
9th March 2017
Reporting its results this morning, global reinsurance firm Hannover Re stressed that it is targeting profitability, not simply accumulating premiums, in the still challenging and soft reinsurance market environment. Hannover Re reported its fifth consecutive record result this morning, with net income across the reinsurer rising by 1.8% to EUR 1.17 ... Read the full article
Hannover Re US announces executive changes as CFO retires
28th February 2017
The U.S. division of reinsurance giant Hannover Re, Hannover Life Reassurance Company of America (Hannover Re US), has announced that Chief Financial Officer (CFO) David Wheat is to retire later this year, and be replaced by Clint Thompson. Effective June 30th, 2017, Wheat will retire from his position as Executive Vice ... Read the full article
Hannover Re & Swiss Re take 90% of Sri Lankan agricultural re/insurance scheme
17th February 2017
Hannover Re and Swiss Re have taken a 90% share in Sri Lanka’s state-owned National Insurance Trust Fund (NITF) agricultural insurance scheme; accepting a respective 50% and 40% of the placement, which was made through reinsurance broker J.B. Boda & Co. Three other global reinsurers, which includes Munich Re, share the ... Read the full article
Reinsurance demand growth seen in North America: Hannover Re
10th February 2017
Hannover Re has underscored North America as one of its major target markets for the coming year after the U.S.’s economic recovery has raised demand for reinsurance protection. The reinsurance giant said its total premium volume for North America rose by 6.5 percent, an attractive margin of increase, especially when compared ... Read the full article
Hannover Re expects to beat profit guidance for 2016
7th February 2017
German reinsurance firm Hannover Re has issued provisional guidance on its 2016 results this morning, saying that it anticipates beating profit guidance by around 23%. Based on provisional figures released this morning, Hannover Re says it could see as much as EUR 1.17 billion of profit for the 2016 financial year, ... Read the full article
Hannover Re increases profit guidance for 2017 to €1bn+
2nd February 2017
Reinsurance giant Hannover Re has raised its profit guidance for 2017 from over €950 million to more than €1 billion ($1.1bn), after a strong round of treaty renewals at the key January 1st 2017 renewal season. The German domiciled reinsurer noted a continuation of the challenging operating landscape at the recent ... Read the full article
Hannover Re backs insurtech start-up
11th January 2017
Hannover Re US is backing life insurance technology (insurtech) start-up Ladder, another example of the growing trend of insurtech start-ups partnering directly with reinsurance capital. This alignment with the biggest reinsurance game-players means start-ups have direct access to the capacity needed to help them scale. In turn, reinsurers benefit from a more direct ... Read the full article
Growth opportunities still exist in reinsurance: J.P. Morgan Cazenove
5th January 2017
With the global reinsurance market having just been through another tricky January renewal season, when rates are generally accepted to have fallen and terms expanded further, there are still opportunities for companies to grow their premiums, according to analysts. Sluggish demand is a factor that has exacerbated the softening of the ... Read the full article
A.M. Best maintains stable outlook for U.S. life reinsurance market
13th December 2016
International financial services ratings agency, A.M. Best, has maintained its stable outlook for the U.S. life reinsurance marketplace, in spite of the company recently revising its outlook on the U.S. life/annuity industry to negative, and maintaining its negative outlook on the global reinsurance market. A recent A.M. Best briefing on ... Read the full article
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