Reinsurance News

Hannover Re

Re/insurance had a more “pleasing” turn in 2019, says Hannover Re

9th September 2019

While re/insurers continue to be impacted by surplus capacities and historically low interest, A report from Hannover Re notes how the industry has had an ”appreciably more pleasing turn in 2019.” Particularly on the primary side, Hannover Re said broadly modest improvement can be observed across the industry and in some ... Read the full article

Swiss Re moves above Munich Re as world’s largest reinsurer: AM Best

29th August 2019

Global reinsurer Swiss Re has knocked Munich Re from its position as the world’s largest reinsurer, as measured by year-end gross premiums written (GPW) in 2018, according to AM Best data viewable at our Top 50 Global Reinsurance Groups directory. Munich Re had led the pack every year since ... Read the full article

Bermuda to play key role in cyber coverage: Hannover Re’s Rentrup

16th August 2019

Cyber reinsurance is likely to become an increasingly critical area of growth for the Bermuda market, which will play a key role in the development of the coverage, according to Konrad Rentrup, President and Chief Executive Officer at Hannover Re Bermuda. “I can only stress how important this line is for ... Read the full article

Hannover Re’s net income up by 19% in 2019, P&C grows substantially

8th August 2019

Global reinsurance giant Hannover Re has reported a 19.3% rise in net income for the first-half of the year, supported by an improved result in life and health (L&H) and significant expansion in property and casualty (P&C) reinsurance. The reinsurer's net income reached €662.5 million, while its operating profit for the ... Read the full article

New Hannover Re CEO has “embraced” reinsurers’ culture: Analysts

9th July 2019

Jean-Jacques Henchoz, the newly-appointed Chief Executive Officer of reinsurance giant Hannover Re, appears to have embraced the company’s culture and is expected to maintain a consistent approach to capital management and underwriting, according to analysts from Morgan Stanley. An Annual General Meeting of Hannover Re in May saw Jean-Jacques Henchoz ... Read the full article

Adham El-Muezzin to lead Hannover ReTakaful and Hannover Re Bahrain

3rd July 2019

Hannover Re’s Executive Board has appointed Adham El-Muezzin to lead Hannover ReTakaful B.S.C. and Hannover Re Bahrain Branch, replacing Mahomed Akoob who is retiring after 17 years with the company. The appointment of El-Muezzin is effective July 1st, 2019, which is the same date that Akoob is leaving the global reinsurance ... Read the full article

Flatter pricing cycle will help protect policyholders: Hannover Re’s Konrad Rentrup

24th June 2019

The flatter pricing cycle that reinsurers have experienced following recent catastrophe events will ultimately ensure that primary insurance policyholders continue to be provided with affordable and widely available coverage. This is according to Konrad Rentrup, President and CEO at Hannover Re Bermuda, who discussed the impact of recent pricing trends alongside ... Read the full article

New tech enables L&H re/insurers to improve risk selection: Tony Laudato, Hannover Re

10th June 2019

The growing influence of advanced technology is enabling life and health insurers and reinsurers to improve the efficiency and robustness of the risk selection process, according to Tony Laudato, a Vice President (VP) at reinsurance giant Hannover Re. The rise of technology and its increased focus on the risk transfer industry ... Read the full article

Need to adapt is testing L&H re/insurers’ reluctance to change, says Hannover Re’s Tony Laudato

23rd May 2019

The historical reluctance of life and health (L&H) re/insurers to change is starting to shift as boards and senior management increasingly understand the necessity of adapting and embracing new technological advances, says Tony Laudato, a Vice President at Hannover Re. “Life insurance companies are very reluctant to change, a lot of ... Read the full article

Jean-Jacques Henchoz takes over as Hannover Re CEO

8th May 2019

The Annual General Meeting of reinsurance giant Hannover Re saw the approval of all proposed resolutions by a large majority, including the appointment of Jean-Jacques Henchoz as Chief Executive Officer (CEO) and the election of Torsten Leue as Chairman of the Supervisory Board. Departing CEO Ulrich Wallin addressed shareholders today at ... Read the full article

P&C, L&H reinsurance drive premium and earnings growth for Hannover Re in Q1

7th May 2019

Reinsurance giant Hannover Re has announced first-quarter 2019 profit of €293.7 million, underpinned by strong performance in its property and casualty (P&C) and life and health (L&H) reinsurance segments. Quarterly profit increased by roughly €20 million year-on-year, while gross premiums expanded by more than 16% to €6.4 billion. The reinsurer was able ... Read the full article

Hannover Re to restrict underwriting for coal-based risks

18th April 2019

Hannover Re has announced that it plans to adopt a more restrictive underwriting policy for the reinsurance of coal-based risks in order to help combat climate change. As a general principle, the reinsurer will not provide coverage for any planned new coal-fired power plants or coal mines, and aims to no ... Read the full article

Hannover Re eyes InsurTech innovation with launch of hr | equarium

12th March 2019

Global reinsurance player Hannover Re has announced the launch of hr | equarium, an online platform designed to better connect InsurTech solutions with the insurance industry. Hannover Re has identified digital disruption, shifting demographics and evolving buyer preferences as having created a challenging operating environment for insurers. Subsequently, the company designed hr ... Read the full article

Hannover Re sets up life reinsurance vehicle Kubera, closes first deal

11th March 2019

Reinsurance giant Hannover Re has established a new Bermuda-domiciled Class C reinsurance vehicle named Kubera Insurance (SAC) Ltd., registering the vehicle in October 2018 before receiving a licence for it in December. The Kubera vehicle appears to have been established specifically for Hannover Re's U.S life reinsurance business to enter into ... Read the full article

Hannover Re’s net income climbs in 2018 despite challenges

7th March 2019

Reinsurance giant Hannover Re has reported net income of €1.06 billion for 2018, up 10.5% year-on-year as the firm achieved solid results in spite of challenging conditions and high levels of catastrophe losses. During 2018, the reinsurer increased its gross premiums by 7.8% to €19.2 billion, with growth occurring in both ... Read the full article

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