Reinsurance News

Hannover Re

2017 highlights need to find competitive advantage: Hannover Re CEO

15th March 2018

The Chief Executive Officer (CEO) of reinsurance giant Hannover Re, Ulrich Wallin, has warned that the reinsurance industry should expect a continuation of the competitive market landscape, underlining the need to develop a competitive advantage in order to be successful. The Germany-based reinsurer recently announced its fourth-quarter 2017 catastrophe results, ... Read the full article

Hannover Re 2017 income nears EUR 1 billion despite catastrophes

13th March 2018

German reinsurer Hannover Re has reported net income of EUR 958.6 million for the full-year 2017, as its results showed how its global scale and diversity has helped them firm to a reasonable result, despite the major catastrophic losses of last year and a plummeting underwriting result in P&C reinsurance. In ... Read the full article

Saga signs 80% motor quota share with New Re & Hannover Re

12th February 2018

Saga plc, a specialty provider of products and services including insurance for the over 50's, has entered into a new quota share reinsurance arrangement with reinsurers New Re (part of the Munich Re group) and Hannover Re for its motor book of business. The quota share reinsurance arrangement will see 80% ... Read the full article

Hannover Re says renewals give it a “solid platform” for 2018

7th February 2018

After the impacts of major catastrophe loss events in 2017 the January 2018 reinsurance renewals and the associated increase in rates available have allowed German reinsurer Hannover Re to put in place, what the CEO terms, a "solid platform" for achieving its targets in 2018. Hannover Re has reported that it ... Read the full article

Talanx to acquire Liberty Mutual’s Turkish non-life insurer

24th January 2018

The parent company of reinsurance giant Hannover Re, Talanx Group, has agreed to acquire 99.4% of the shares in Liberty Sigorta A.S., Liberty Mutual Group's Turkish non-life subsidiary. The transaction enables Talanx to strengthen its presence in the Turkish marketplace, which is one of its core markets, and is expected to close ... Read the full article

GIG-Egypt renews reinsurance deal with Hannover Re

12th January 2018

Egypt’s Arab Misr Insurance Group (GIG) has renewed a one-year reinsurance deal with Hannover Re under the same conditions and retention rates of last year, the Amwalalghad reported. The Egyptian Life Takaful Company is the first established Takaful life insurer in the Egyptian market, and boasts a good business profile across Egypt's insurance market. Last ... Read the full article

IAG enters into risk sharing deals with Munich Re, Swiss Re, Hannover Re

8th December 2017

Insurance Australia Group Limited (IAG) said this morning that it has entered into reinsurance arrangements with three of the biggest companies in the world, as it looks to better manage the volatility in its results. The 3 quota share reinsurance agreements will see IAG cede 12.5% of its underwriting business through ... Read the full article

MSK & Hannover Re unit partner for actuarially sound cyber risk pricing

20th November 2017

German actuarial specialists Meyerthole Siems Kohlruss (MSK) and E + S Rück, the German unit of global reinsurance giant Hannover Re, are partnering to develop tools to assist with pricing of cyber risks. In a two-pronged partnership, the pair are developing a pricing model for cyber risk underwriting as well as ... Read the full article

Europe’s big four hit with record Q3 losses but capitalisation remains strong: Fitch

16th November 2017

The capitalisation of Europe's big four reinsurers remains strong, despite a heavy hit to earnings after significant claims from hurricanes Harvey, Irma and Maria (HIM), the Mexico earthquakes and the California wildfires could make Q3 a record year for reinsurers' catastrophe losses. Rating agency Fitch said that while all four reported significant ... Read the full article

Hannover Re sells stocks to help pay hurricane claims and for future opportunities

9th November 2017

To help pay for claims from hurricanes and earthquakes, and to free up capital for opportunities that may emerge at renewals, Hannover Re has sold its entire stock portfolio, worth about EUR 953 million. Hannover Re reported EUR 1.6256 billion of gross large losses for the first nine months of 2017, but ... Read the full article

Hannover Re posts slim Q3 net income, as retro helps reinsurer pay losses

8th November 2017

Reinsurance giant Hannover Re saw its net income decline to €14 million in the third-quarter of 2017, as net catastrophe losses of €894.3 million exceeded its large loss budget for the first nine months of the year by roughly €270 million. The Germany-based reinsurer recorded gross catastrophe losses of €1.625 billion ... Read the full article

Deutsche Bank turns positive on European reinsurers’ pricing outlook

31st October 2017

Deutsche Bank has turned positive on its European reinsurance pricing outlook after hurricanes Harvey, Irma, Maria, and the Mexican earthquakes caused widescale market disruption, with an expected $95 billion global market impact. Deutsche Bank said "this will be by far the biggest individual driver for the quarter and given the magnitude ... Read the full article

Hannover Re’s parent exhausts large loss budget on HIM & Mexico quakes

27th October 2017

Talanx Group, the parent company of reinsurance giant Hannover Re, has announced losses of approximately €900 million (US$1.05bn) from hurricanes Harvey, Irma, and Maria, and the two Mexico earthquakes, meaning it's now exhausted its catastrophe loss budget for 2017. Talanx announced previously that it expects to "exceed the pro-rata large loss ... Read the full article

Premium growth forecast for German market: Hannover Re

23rd October 2017

Hannover Re forecasts modest market growth for its subsidiary, E&S Rueck, with rate increases for loss-impacted programmes and increased demand in cyber and telematics risks, in the upcoming January 1st renewals. Rate improvements are expected in motor insurance lines; prices for natural catastrophe covers are predicted to at least remain stable. "When ... Read the full article

Hannover Re US provides aggregate excess of loss cover for Next Generation ACO

3rd October 2017

Global reinsurance player Hannover Re said today that its U.S. arm Hannover Life Reassurance Company of America (Hannover Re US) has closed on an aggregate excess of loss protection for UT Southwestern, a Texas-based Accountable Care Organization (ACO). UT Southwestern participates in the so-called Next Generation ACO Model, a healthcare system ... Read the full article