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 posts 28% rise in net income for 2024 as CoR strengthens to 86.6%
13th March 2025
Large European reinsurer Hannover Re's net income increased by 28% in 2024 to €2.3 billion, reaching the revised higher guidance, with a substantial improvement in property and casualty (P&C) operating profit and a solid life and health (L&H) performance. Hannover Re has today reported a very strong set of results ... Read the full article
Hannover Re announces key L&H leadership promotions
6th March 2025
Global reinsurer Hannover Re has announced the promotions of Soeren Kruse, Niall Mulvey, and Raphael Rimelin within its Life & Health (L&H) division, led by Claude Chèvre and Brona Magee. Kruse has been named Head of L&H, Southern & Eastern Asia. He has been with Hannover Re for 11 years, holding ... Read the full article
Hannover Re names James Ng CEO of Malaysian Branch
12th February 2025
Global reinsurer Hannover Re has announced the appointment of James Ng as Chief Executive Officer of its Malaysian Branch in Kuala Lumpur. Ng brings over two decades of experience in the re/insurance industry, having held various roles in management, underwriting, and sales & distribution. He joined Hannover Re just over a year ... Read the full article
Hannover Re LA wildfire loss of €500m-€700m will exceed Q1 large loss budget: CEO Henchoz
6th February 2025
Jean-Jacques Henchoz, Chief Executive Officer (CEO) of large European reinsurer Hannover Re, said this morning that an industry loss of between $30 billion and $40 billion from the Los Angeles wildfires could lead to a net loss for the firm of between €500 million and €700 million, which is above ... Read the full article
Hannover Re sees book grow 7.6% at Jan 1 as 2024 net income reaches €2.3bn
6th February 2025
Large European reinsurer Hannover Re has reported an increase in premium income in traditional property and casualty reinsurance by 7.6% at the 1 January 2025 treaty renewals, while its net income increased to €2.3 billion in the 2024 financial year. "The good quality of the renewed business was maintained, while an ... Read the full article
Henchoz to step down from Talanx Board in 2025, Jungsthöfel to succeed as reinsurance lead
12th November 2024
Jean-Jacques Henchoz, Member of the Board of Management at Talanx AG with responsibility for the Reinsurance division, will not extend his expiring contract and will depart from the Board on 31 March 2025, with Clemens Jungsthöfel, Chief Financial Officer and designated CEO of Hannover Re, set to assume these responsibilities ... Read the full article
Hannover Re expects stable P&C reinsurance market terms, additional demand in 2025: CEO Henchoz
11th November 2024
European reinsurance company Hannover Re is expecting a broadly flat risk-adjusted rate environment for the property and casualty (P&C) market in 2025, which supports its combined ratio guidance of less than 88% for next year, with terms in the segment projected to be stable amid strong demand and a disciplined ... Read the full article
Hannover Re lifts 2024 profit target as 9M net income reaches €1.8bn and losses fall within budget
11th November 2024
Large European reinsurer Hannover Re has raised its profit target for 2024 on the back of a 30.4% rise in net income to €1.8 billion for the first nine months of the year, as the reinsurance service result increased by more than 36% to €2.1 billion. Across the group, gross reinsurance ... Read the full article
Clemens Jungsthöfel to succeed Jean-Jacques Henchoz as CEO of Hannover Re
8th November 2024
Jean-Jacques Henchoz, Chief Executive Officer (CEO) of large European reinsurer Hannover Re, has decided to leave the company and will be succeeded by Clemens Jungsthöfel, effective April 1st, 2025. Henchoz, who has led the reinsurer since 2019, requested not to extend his expiring contract, and will leave the firm's Executive Board ... Read the full article
Rael Davis named Chief Financial Officer of Hannover Re UK Life Branch
1st November 2024
Global reinsurer Hannover Re has announced the appointment of Rael Davis as Chief Financial Officer of the Hannover Re UK Life Branch. Davis brings extensive expertise in global accounting standards, a strong understanding of the financial drivers behind the company’s performance, and a well-established internal network within the Hannover Re Group. He ... Read the full article
E+S Rück anticipates further price increases and improved T&Cs at Jan 1
21st October 2024
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for German business, has indicated that further price increases and improved terms and conditions are likely at the January 1, 2025, property and casualty reinsurance renewals, following losses caused by severe weather events in the country. Discussing natural catastrophe covers, E+S Rück observed ... Read the full article
Hannover Re names Wilson MD of Life & Health Global Services
1st October 2024
Global reinsurer Hannover Re has announced the appointment of Margot Wilson as Managing Director of the newly created division Life & Health Global Services. The division will be responsible for spearheading crucial initiatives related to L&H that align with the long-term execution of Hannover Re’s strategic plan. This also includes a focus ... Read the full article
Hannover Re hires Blake Dimitrijevic from Guy Carpenter as MD of Australian branch
1st October 2024
Large European reinsurer Hannover Re has appointed Blake Dimitrijevic, formerly of reinsurance broker Guy Carpenter, as the new Managing Director (MD) of its Australian branch. Dimitrijevic joins the firm after a little over a year with Guy Carpenter, who he joined in September 2023 from Swiss Re as Managing Director, Head ... Read the full article
Prices and conditions to remain on a sustained stable level, says Hannover Re
9th September 2024
Large European reinsurer Hannover Re is seeing robust demand for “high-quality” reinsurance protection and is well placed for profitable growth ahead of the January 1st, 2025, reinsurance renewals. This morning, Hannover Re discussed current reinsurance market conditions and the outlook for the January 2025 renewals at the annual meeting of the ... Read the full article
Munich Re & Swiss Re remain the world’s largest reinsurers
3rd September 2024
Reinsurance giant's Munich Re and Swiss Re remain the two largest global reinsurers across the globe according to data from ratings agency AM Best. In prior years, the agency ranked the top 50 global reinsurers in a single list, but now, with the adoption of IFRS 17, the ... Read the full article
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