Reinsurance News

Hannover Re

Hannover Re CEO Wallin to retire, be replaced by Henchoz from Swiss Re

22nd August 2018

The CEO of global reinsurance Hannover Re, Ulrich Wallin, is to step down and retire from the firm in 2019 and will be replaced by Jean-Jacques Henchoz of Swiss Re. The company said this morning that Jean-Jacques Henchoz will become a member of the Hannover Re Executive Board from 1st April ... Read the full article

Genoa bridge collapse to cost insurers up to $685 million: J.P. Morgan

20th August 2018

Analysts at J.P. Morgan have estimated that the Genoa bridge collapse will result in an insurance industry loss of up to €600 million (US$685 million), driven primarily by property damage and business interruption (BI) losses. Amid extremely heavy rainfall, a 200m section of the Morandi bridge, which is the main road ... Read the full article

Hannover Re expects mortality book will strain H2 results

10th August 2018

Hannover Re's life and health reinsurance segment performed well in the opening six months of 2018, however, the reinsurer's decision to increase rates across a block of U.S. mortality business, in light of its negative earnings situation, is expected to result in considerable strains during the second-half of the year. The ... Read the full article

Hannover Re’s P&C unit drives positive results in challenging conditions

9th August 2018

Reinsurance giant Hannover Re has reported a 3.8% rise in net income for the first-half of the year, alongside premium growth of 11% to €10 billion (US$11.6bn). The firm also improved the combined ratio within its property and casualty (P&C) reinsurance segment, in spite of "fierce competition." The Germany domiciled reinsurer ... Read the full article

Growth opportunities remain despite market challenges: Hannover Re CEO Wallin

18th July 2018

Despite ongoing competition and pricing challenges in many areas of the industry, various opportunities for growth remain open to re/insurers, including new lines of business, technological efficiencies, and emerging markets, according to Ulrich Wallin, Chief Executive Officer (CEO) of Hannover Re. Speaking in an interview with Reinsurance News, Wallin explained that ... Read the full article

Catastrophe market to remain highly competitive: Hannover Re CEO Wallin

13th July 2018

Natural catastrophe is set to remain the most competitive area for reinsurers, due primarily to an abundance of both traditional and alternative capital in the market, as well as the stability of catastrophe models following 2017’s huge losses, according to Ulrich Wallin, Chief Executive Officer (CEO) of Hannover Re. Speaking in ... Read the full article

Hannover Re joins new Chinese reinsurance blockchain initiative

29th June 2018

Hannover Re, China Re, Germany General Re (Gen Re), and Zhong An Technology have launched a new intercompany trading platform to support the implementation of blockchain technology in the Chinese reinsurance market, according to China Insurance News Network. The parties recently released the Reinsurance Blockchain (BIC) White Paper in Shanghai, a ... Read the full article

Hannover Re to step away from coal investment

20th June 2018

Hannover Re’s pledge to divest from companies dependant on coal for more than 25% of its revenue means close to half of the world’s reinsurers have made commitments to step away from the energy source, according to the Unfriend Coal campaign. Hannover Re’s exclusion policy will not apply to coal power ... Read the full article

Hannover Re CEO “not very optimistic” on Florida renewals

18th May 2018

Ulrich Wallin, the Chief Executive Officer (CEO) of global reinsurer Hannover Re, isn't very optimistic on the Florida renewals owing to the substantial availability of capacity that continues to drive a supply / demand imbalance, in spite of 2017 catastrophe events. Speaking during the firm's first-quarter 2018 earnings call, the CEO ... Read the full article

Hannover Re & HDI Global seek specialty growth with joint venture

11th May 2018

German reinsurance firm Hannover Re and primary commercial specialists HDI Global SE are to join forces in search of growth in specialty lines under the banner of a new joint venture, HDI Global Specialty. Both part of the Talanx group, Hannover Re and HDI Global already have expertise in the specialty ... Read the full article

Hannover Re expecting to surpass P&C Re strategic growth target

8th May 2018

Germany-based reinsurer Hannover Re expects to surpass its strategic growth target for its overall property and casualty (P&C) reinsurance business, driven in part by increased demand in structured reinsurance. The reinsurer recently announced its first-quarter 2018 results, which revealed solid premium growth enabled by taking advantage of improved reinsurance market conditions ... Read the full article

Hannover Re starts 2018 with solid premium growth

7th May 2018

German reinsurance firm Hannover Re has begun 2018 with solid growth in premiums underwritten, as the firm took advantage of better market conditions to create a much larger portfolio for the year ahead. Across the business, Hannover Re reported a 17.6% increased in premiums underwritten for the quarter, a figure which ... Read the full article

Hannover Re capitalises new Argenta SPA 6134 at Lloyd’s

3rd April 2018

German reinsurance firm Hannover Re is capitalising a newly established Special Purpose Arrangement at Lloyd's to enhance the capacity available to Argenta Syndicate 2121. Argenta Holdings Ltd., now a subsidiary of Hannover Re since the reinsurer bought the Lloyd's managing agency and private capital specialist, owns the vehicle, and its ... Read the full article

Hannover Re unit partners with blockchain superannuation start-up

23rd March 2018

Hannover Life Re Australasia will be partnering with GROW Super, an Australian start-up superannuation fund, to explore innovative approaches to providing group insurance using blockchain technology. GROW Super, which launched in May 2017, will use R3’s Corda blockchain infrastructure to apply distributed ledger technology to group re/insurance and deliver improved customer ... Read the full article

Talanx’s financial results remain robust in spite of heavy 2017 losses

19th March 2018

Despite heavy catastrophe losses in 2017 Hannover Re's parent company Talanx's financial results show the re/insurance giant remains well-placed to ride out the industry's cyclical low points reporting an overall 6.3% gross written premiums increase, solid return on investment and continued dividends' growth. Group net income for 2017 was EUR 672 ... Read the full article