Reinsurance News

Hannover Re

Hannover Re and Stone Ridge in $100m retrocession cyber quota share

19th January 2023

Hannover Re, one of the world's largest reinsurers, has, for the first time, transferred cyber risks to the capital markets via a proportional reinsurance solution, with New York-based Stone Ridge Asset Management supporting the transaction with USD 100 million of capital. The German reinsurer has created an additional retrocession tool that enables ... Read the full article

Parametrix strengthens US operations with additional reinsurance capacity

15th December 2022

Provider of downtime insurance, Parametrix, is strengthening and expanding its operations in the United States with additional reinsurance capacity. The firm has announced that partners Hannover Re and certain underwriters from Lloyd’s, which includes Tokio Marine Kiln, RenaissanceRe, and Apollo (through ibott Syndicate 1971) will join, or have renewed their commitment ... Read the full article

Global reinsurers driving premium growth so far in 2022: Gallagher Re

30th November 2022

Premium growth in the first nine months of 2022 has been driven by global reinsurers, says reinsurance broker Gallagher Re in a new analysis. The firm said that the (re)insurers it tracked reported YOY premium growth of 13% by Q3, but the strongest increases came from global reinsurers and reached 18.2%. It ... Read the full article

Industry returns driven by hard market: Goldman Sachs

23rd November 2022

A new note from Goldman Sachs says that attractive returns within the industry are being driven by a hard market. The firm said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty. This has continued, it said, as the hard market pricing has started ... Read the full article

European reinsurers see earnings drop in first nine months of 2022: Fitch

18th November 2022

A new report from Fitch Ratings says that the earnings of Europe’s four main reinsurers fell over the first nine months of this year, compared to the same period in 2021. The firm said that this was because of higher natural catastrophe losses, weaker investment returns, and reserve strengthening. On average, ... Read the full article

Clear that reinsurance pricing dynamics are set to materially change into 2023, say analysts

15th November 2022

A discussion with Sven Althoff, Member of the Executive Board at Hannover Re, has left analysts at JP Morgan confident that reinsurance pricing should materially improve into next year, with positive dynamics anticipated in all classes of business. "We believe the call supported our argument that reinsurance pricing should materially improve ... Read the full article

Munich Re expects Q4 boost from Hannover Re investment joint-venture: CFO

8th November 2022

Munich Re's group CFO Christoph Jurecka revealed this morning that the reinsurance company is already expecting to feel a positive effect from its investment joint-venture with rival Hannover Re, as soon as during the fourth-quarter. Reinsurance News reported earlier in November that Munich Re and Hannover Re, two of Europe’s ... Read the full article

Hannover Re & Munich Re planning alternative investment joint-venture

3rd November 2022

Hannover Re and Munich Re, two of Europe's big four reinsurance companies, are awaiting regulatory approvals for an alternative investment joint-venture, designed to increase the diversification of a combined private equity portfolio, while likely leading to better terms and conditions on new investments. On a recently held earnings call to ... Read the full article

Hannover Re posts rise in net income despite large losses exceeding budget for 9M 2022

3rd November 2022

German reinsurer Hannover Re has reported group net income growth of 1.7% to €871 million for the first nine months of 2022, despite the firm's net large losses coming in above budget for the period at €1.484 billion. Alongside slight growth in net income, Hannover Re's 9M 2022 operating profit rose ... Read the full article

E+S Rück predicts ‘significant’ improvements in P&C reinsurance risk-adjusted prices and conditions

24th October 2022

Hannover Re subsidiary E+S Rück has said it expects significant improvements in risk-adjusted prices and conditions in property and casualty reinsurance on the back of continued heavy claims expenditure and soaring inflation. Dr. Michael Pickel, chief executive officer of E+S Rück, said: "Both insurers and reinsurers alike find themselves facing a ... Read the full article

Hannover Re to benefit from opportunities in ILS & Asia: Jefferies

14th October 2022

Analysts at Jefferies have asserted that Hannover Re is set to benefit from opportunities in areas of change that it has embraced to a greater extent than many peers, including the hard market environment, ILS markets, Asian growth and even IFRS 17. In terms of innovation, Jefferies notes that Hannover Re ... Read the full article

Hannover Re “well positioned” to benefit from hard market: analysts

7th October 2022

Following Hannover Re’s recent investor day in London, analysts have reported that they remain confident the reinsurer is “well positioned” to benefit from an increasingly hard pricing environment next year. JP Morgan said it remains positive on Hannover Re due to its stable and high returns versus reinsurance peers, clear evidence ... Read the full article

Reinsurer nat cat experience year-to-date has been mixed, says JP Morgan

15th September 2022

According to a report from JP Morgan, Europe's big four reinsurers had mixed natural catastrophe experiences during the first half of 2022. It notes Munich Re is the only company to see losses below expectations at ~60% of the H1 budget, with only ~30% of the full-year budget utilized so far. ... Read the full article

Hannover Re predicts price increases and improved conditions in 2023

12th September 2022

Hannover Re has said that it expects next year to be one of price increases and improved conditions in property and casualty reinsurance. The firm said in a statement that the first half of 2022 proved challenging for primary insurers and reinsurers alike. Soaring inflation, major losses and an accumulation of ... Read the full article

Capital adequacy remains a key strength for Europe’s big four: Moody’s

31st August 2022

According to a Moody’s Investors Service report, falling bond and equity prices resulted in a significant decline in reported shareholders' equity, though capital adequacy remains a key strength for Europe’s big four reinsurers, confirming the cohort's capacity to absorb future shocks. Rising rates were positive for the sector’s regulatory Solvency II ... Read the full article