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.
Parametrix secures $50m parametric cloud outage coverage for US retail chain
12th July 2024
Earlier this week, Parametrix, a provider of cloud monitoring, modeling, and insurance services, successfully secured a $50 million parametric cloud outage coverage for a US retail chain. As announced by Parametrix's Chief Commercial Officer, Sharon Haran, this innovative coverage provides the client with protection against Amazon Web Services (AWS) outages during ... Read the full article
Schroders Capital teams with Hannover Re on tokenised ILS pilot
4th July 2024
Schroders Capital, the private markets business of Schroders Group, has collaborated with global reinsurer Hannover Re on a pilot tokenisation project, designed to enhance the way insurance-linked securities (ILS) investments are invested and managed. It's important to address, that this pilot further builds on Schroders Group’s commitment to innovation in digital assets, ... Read the full article
Argenta Holdings closes Sydney office, moves operations to London
1st July 2024
Argenta Holdings Ltd, a subsidiary of Hannover Re, has recently announced the immediate closure of the Sydney office of its Service Company, Argenta Underwriting Asia Pte Ltd, which operates on the Lloyd’s Australia platform. Following a review of its underwriting activities in Australia, the business currently managed in Sydney, as well ... Read the full article
Stable P&C market conditions set to continue into 2025: Hannover Re CEO
14th May 2024
Jean-Jacques Henchoz, CEO of global reinsurer Hannover Re, has suggested that the stable outlook for the P&C market is set to continue, given there are no significant new entrants in the space. Henchoz's comments stem from Hannover Re's opening quarter earnings call, in which he noted that the environment is currently ... Read the full article
Hannover Re’s net income rises as P&C reinsurance CoR strengthens to 88%
14th May 2024
Global reinsurer Hannover Re has announced a 15% rise in net income to €558 million in its first quarter 2024 results, with a reinsurance underwriting result of €720 million, up 27% year-on-year. Group-wide, Hannover Re's operating profit rose 13% to €811 million from €720 million in Q1 2023, as the return ... Read the full article
Hannover Re CEO expects further earnings growth following robust recent performance
7th May 2024
Hannover Re CEO Jean-Jacques Henchoz anticipates further earnings growth following a string of successful financial years in the firm's most recent strategy cycle. During Hannover Re's Annual General Meeting, Henchoz underlined the firm's reliability, noting how it delivered on promises from 2021 to 2023 in the face of numerous challenges. The firm ... Read the full article
Hannover Re & Parametrix launch world’s first cloud outage catastrophe bond
15th April 2024
Large European reinsurer Hannover Re has, in collaboration with Parametrix, issued the world's first cloud outage catastrophe bond, a $13.75 million privately placed transaction called Cumulus Re. Issued via Hannover Re's wholly owned Bermuda domiciled subsidiary, Kaith Re Ltd., the parametric cat bonds provide the reinsurer with incremental retrocession coverage against ... Read the full article
Europe’s big four reinsurers well placed for a strong 2024: Fitch
2nd April 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe's big four reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR are well placed ... Read the full article
Europe’s big four reinsurers doubled combined earnings in 2023, says Moody’s
27th March 2024
Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices and improved investment returns. Moody’s report underscores that all four companies ... Read the full article
Hannover Re creates new specialty reinsurance business unit
26th March 2024
Global reinsurer Hannover Re has announced it will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective from the 1st of April 2024. According to Hannover Re, the new business unit will further enhance its position as "a trusted business partner" ... Read the full article
Hannover Re entering 2024 with stronger balance sheet as it targets net income of at least €2.1bn
18th March 2024
Speaking during Hannover Re's earnings call for the 2023 financial year earlier today, Jean-Jacques Henchoz, the company's chief executive officer (CEO), confirmed that the company is aiming to deliver a group net income of at least €2.1 billion in 2024. He did note however, that this net income expectation is under ... Read the full article
Hannover Re adds Swiss Re’s Steinmann to Executive Board to succeed Pickel
18th March 2024
The Supervisory Boards of Hannover Rück SE and E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the Group's German business, have appointed Thorsten Steinmann as a member of the Executive Board, effective 1st September 2024. Steinmann succeeds Michael Pickel who will retire on 31st December 2024 after 25 years at ... Read the full article
Hannover Re’s 2023 net income improves as reinsurance revenue climbs to €24.5bn
18th March 2024
Hannover Re has disclosed that it generated net income of €1.8 billion for the 2023 financial year, up from €800 million in 2022 and beating its guidance of at least €1.7 billion. As a result of this, the firm's earnings per share reached €15.13, up from €6.47 in 2022. Hannover Re explained ... Read the full article
FEMA secures a further $575m of flood reinsurance for NFIP
11th March 2024
The U.S. Federal Emergency Management Agency (FEMA) has obtained reinsurance coverage through insurance-linked securities (ILS) reinsurance for the seventh time by entering a three-year reinsurance agreement, securing $575 million of coverage for the National Flood Insurance Program (NFIP). FEMA entered into the agreements with its transformer reinsurer, Hannover Re (Ireland) Designated ... Read the full article
European reinsurers’ 1/1 renewals outcome suggests underwriting margins close to peaking: Fitch
29th February 2024
Analysis by Fitch Ratings on the outcome of the key January 1st, 2024, renewals for European reinsurers claims that underwriting margins are close to peaking as supply and demand exhibits greater equilibrium. Earlier this year, Fitch warned that reinsurers’ underwriting margins are likely to peak in 2024, as the rating ... Read the full article
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