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.
Munich Re using less retrocession compared with others in Big Four: AM Best
2nd September 2024
According to a new report from AM Best, Munich Re reportedly makes "relatively little use" of retrocession compared with Swiss Re, SCOR and Hannover Re. AM Best's report observed that Swiss Re has shifted in recent years to increase its use of retrocession protection, while significant use has long been ... Read the full article
Retentions still holding, current P&C market sentiment to persist: Althoff, Hannover Re
12th August 2024
Sven Althoff, Member of the Executive Board for P&C at Hannover Re, said today that the global reinsurer is not expecting a change in P&C market sentiment despite another active period for catastrophe losses, notably from secondary perils. This morning, reinsurer Hannover Re announced a very strong set of results ... Read the full article
Brona Magee to succeed Klaus Miller on the Executive Board of Hannover Re
12th August 2024
Global reinsurer Hannover Re’s Supervisory Board has appointed Brona Magee as a member of the Executive Board, effective January 1st, 2025. Magee succeeds Klaus Miller on the Executive Board, who will remain with the firm in an advisory role. Since April 2023, Magee has successfully overseen the firm's Business Center Life & ... Read the full article
Hannover Re sees P&C reinsurance CoR strengthen as underwriting result improves
12th August 2024
Large reinsurer Hannover Re has reported a 21% rise in Group net income to €1.2 billion for the first half of 2024, with an 8.8% increase in property and casualty (P&C) reinsurance revenue as large loss costs came within budget at €566 million. Germany's Hannover Re has posted a strong set ... Read the full article
Michael Eberhardt named Managing Director and CUO of Hannover Re Bermuda
1st August 2024
Global reinsurer Hannover Re has announced the appointment of Michael Eberhardt as Managing Director and Chief Underwriting Officer (CUO) of Hannover Re Bermuda. Eberhardt brings nearly two decades of industry experience in various management roles to his new position. He joined Hannover Re in June 2006 as a Senior Underwriter in the ... Read the full article
Natural Disaster Fund makes $1.45m in payouts in Grenada after hurricane Beryl
19th July 2024
The Natural Disaster Fund (NDF), which is managed by Global Parametrics, a CelsiusPro Group company, has made payouts exceeding USD 1.45 million to enable support for businesses and communities in Grenada following the impacts of hurricane Beryl. CelsiusPro has reported that the NDF, a public-private partnership funded by UK and German ... Read the full article
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
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