Reinsurance News

Hannover Re

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

Hannover Re adds Silke Sehm to Executive Board

6th March 2019

The Supervisory Board of Hannover Re has appointed Silke Sehm as a full member of the Executive Board with immediate effect. Sehm takes responsibility for French-speaking and Nordic markets in Europe as well as Central and Eastern Europe and catastrophe business. She joined Hannover Re in 1996 as an underwriter for property ... Read the full article

Jeff Burt named President of Hannover Re US

21st February 2019

Hannover Life Reassurance Company of America (Hannover Re US), a division of German-based reinsurance giant Hannover Re, has promoted Jeff Burt to President. The appointment sees Burt take responsibility for the reinsurer's life and health reinsurance operations in the U.S. He first joined Hannover Re US roughly 16 years ago as Vice ... Read the full article

Hannover Re’s Glencar Insurance receives A+ rating from A.M. Best

14th February 2019

Glencar Insurance Company (GIC), a newly established subsidiary of German reinsurer Hannover Re, has received a financial strength rating of A+ (Superior) from A.M. Best. The rating agency also assigned GIC a long-term issuer credit rating of “aa”, in addition to a stable outlook. A.M. Best explained that the ratings reflected GIC’s ... Read the full article

Pricing insufficient to account for climate and higher cats: Wallin, Hannover Re

6th February 2019

Ulrich Wallin, the Chief Executive Officer (CEO) of reinsurance giant Hannover Re, has underlined the fact that climate change is not included within current catastrophe pricing, adding that pricing is not sufficient to deal with increased catastrophe losses. Hannover Re recently announced a solid January renewals season, which, keeps the ... Read the full article

Solid January renewals keeps Hannover Re on track for 2019 targets

5th February 2019

Reinsurance giant Hannover Re has announced Group net income of €1.05 billion for the 2018 financial year and is expecting higher net income for 2019. The reinsurer has also revealed that it grew its premium volume in traditional property and casualty reinsurance by more than 15% at the January 1st  ... Read the full article

Hannover Re & HDI Global launch new specialty insurance venture

8th January 2019

HDI Global Specialty SE, a new specialty lines insurer launched as a collaborative venture between Hannover Re and HDI Global, commenced underwriting at the beginning of the year with premium volumes in excess of €1 billion. The insurer was formed after HDI Global and Hannover Re, which are both part of ... Read the full article

Liberty Mutual Re hires Uwe Haug from Hannover Re

7th January 2019

Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Uwe Haug as Head of Underwriting Strategy and Business Development for its global financial risks reinsurance business. Haug spent the previous two decades at Hannover Re, most recently leading its global specialty portfolio as General Manager for Northern, ... Read the full article