Reinsurance News
Talanx
Talanx reports €313mn COVID-19 related losses in Q1
7th May 2020
Hannover Re parent Talanx has announced first quarter coronavirus-related large losses of €313 million. The coronavirus crisis impacted both underwriting and investments in the first quarter of the new financial year. Large losses in primary insurance and reinsurance rose from €137 million in the same period of the previous year to €435 ... Read the full article
Talanx posts record €923mn net income for 2019 despite large losses
16th March 2020
Talanx, the parent company of Hannover Re, generated a record net income of €923 million during 2019 despite higher-than expected large losses. Total large losses amounted to €1.3 billion, due above all to events in non-life reinsurance. €363 million of this figure was attributable to primary insurance, while reinsurance accounted for the ... Read the full article
Hannover Re’s parent Talanx announces record results in 2019
6th February 2020
Talanx, the parent company of German reinsurer Hannover Re, has announced record results of €923 million (roughly USD 1 billion) in 2019, driven in part by an extremely strong performance within its reinsurance segment. Based on preliminary unaudited consolidated figures, the Talanx's earnings jumped by approximately 30% from the €703 million ... Read the full article
Hannover Re’s parent Talanx reports 52% rise in net income
11th November 2019
The Talanx Group, which is the parent of reinsurance giant Hannover Re, has produced net income of €742 million for the first nine months of 2019, while the group-wide combined ratio remained relatively flat at 98.5%. Net income of €742 million represents growth of 52% on the same period in 2018, ... Read the full article
Talanx partners with intelligent automation firm WorkFusion
9th October 2019
Talanx Group, the parent of reinsurance giant Hannover Re, has entered into a strategic partnership with New York-based intelligent automation and robotic process automation software firm, WorkFusion. It’s hoped the agreement will accelerate end-to-end digitisation of core business processes, starting with HDI Germany. “We are thrilled to partner with Talanx Group and ... Read the full article
Talanx lifts FY19 net income outlook after strong first-half result
12th August 2019
Reinsurance giant Hannover Re's parent, The Talanx Group, has raised its outlook for Group net income in 2019 to above €900 million on the back of a strong first-half performance, supported by a greater contribution from its reinsurance division despite the impact of losses. For the first-half of 2019, the company's ... Read the full article
Hannover Re’s parent leads financing of Spanish PV solar parks
20th June 2019
Parent of reinsurance giant Hannover Re, The Talanx Group has been revealed as the lead investor for the financing of nine operational photovoltaic (PV) solar parks located in southwest Spain, with financial guarantee being provided by Assured Guaranty (Europe) plc (AGE). The financing further expands Talanx's sustainable investment activities and, the ... Read the full article
Talanx highlights greater contribution from reinsurance in Q1
9th May 2019
The Talanx Group, reinsurance giant Hannover Re's parent company, has reported that its reinsurance segment provided a greater contribution to its consolidated net income in the first-quarter of 2019, assisted by a reduction in major losses. Talanx has announced an operating result of €616 million and a consolidated result of €235 ... Read the full article
Talanx results robust despite heavy Q4 nat cat losses
18th March 2019
Despite heavy fourth quarter catastrophe losses, Hannover Re parent company The Talanx Group’s overall combined ratio for 2018 showed a 2.2% year-on-year improvement, reaching 98.2%. The Group's operating profit for Q418, which in particular saw a big hit from the Californian wildfires, slid -20.1% to €562 million. Gross written premiums for the ... Read the full article
Reinsurance division performs well for Talanx in 2018
12th November 2018
Hannover Re's parent company, the Talanx Group, has reported that its reinsurance operation has strongly contributed to Group net income in 2018, which increased by 10% to €488 million. In fact, all divisions with the exception of Industrial Lines contributed to the Group's net income improvement, year-on-year, and the firm highlighted ... Read the full article
New Talanx strategy to include reinsurance bundling and innovation
23rd October 2018
Hannover Re’s parent company, The Talanx Group, has revealed that its strategy for 2019 and beyond is to include the bundling of intragroup reinsurance at the holding company level, as well as the development of integrated and innovative reinsurance solutions. The Group said that acting as an intragroup reinsurer will increase ... Read the full article
Talanx warns of profit hit from industrial property claims
16th October 2018
Large and frequency losses across its industrial property insurance portfolio are set to drive Hannover Re's parent Talanx Group to a negative third-quarter in that division, the company said yesterday. Talanx has pre-warned of these losses ahead of its November results statement, in order to alert the market to the negative ... 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 & 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
Generali completes sale of Panama and Colombia operations
16th April 2018
Italian headquartered global insurer Assicurazioni Generali S.p.A. has announced the closing of the sale of both its Panama and Colombia operations, for a consideration of approximately €170 million (US $210mn). Both transactions were originally announced during the second-half of 2017, and are part of the company's strategy to "rationalize its international ... Read the full article
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