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.
Hannover Re targets “industry-leading performance” in new strategy cycle 2026
12th December 2023
In its new strategy cycle through to 2026, reinsurance giant Hannover Re has asserted it aims to showcase "industry-leading performance" in terms of profitability and earnings growth, alongside maintaining its "lasting stability and resilience." As per Hannover Re, this new strategy is guided by three main beacons; Focus, Grow and Accelerate. The ... Read the full article
Hannover Re expects net income of €2.1bn for 2024, reinsurance revenue growth of over 5%
12th December 2023
Hannover Re, one of the world's largest reinsurers, is anticipating net income of at least €2.1 billion for 2024 and a combined ratio of below 89% in its property and casualty (P&C) reinsurance business in the period, as the firm unveils its programme for the strategy cycle through 2026. Group net ... Read the full article
Talanx posts 38% rise in 9M’23 net income, increases FY23 earnings forecast
13th November 2023
The Talanx Group, the parent company of global reinsurer Hannover Re, has disclosed that its Group net income increased 38% in the first nine months of 2023 to €1.3 billion, while the firm’s overall combined ratio also improved to 93.5%. Talanx’s insurance revenue in the period grew to €32.3 billion, while ... Read the full article
Hannover Re ‘happy’ with experience so far in 2023, despite rising frequency losses: Althoff
9th November 2023
German reinsurance giant Hannover Re will continue to manage growth within US wind very carefully in order to improve diversification, and despite a rise in frequency outside of the US, is happy with the experience year-to-date, according to Sven Althoff, Member of the Executive Board, Property & Casualty (P&C). This morning, ... Read the full article
Hannover Re posts stronger P&C combined ratio as net income rises 25%
9th November 2023
Global reinsurer Hannover Re has reported a 25% lift in net income to €1.4 billion for the first nine months of the year, as the reinsurance service result improved 47% to €1.6 billion and the combined ratio strengthened year-on-year. Across the Group, reinsurance revenue rose 1% to €18.5 billion in 9M ... Read the full article
Hannover Re’s E+S Rück expects P&C price increases at Jan 24 renewals
23rd October 2023
Hannover Re’s German subsidiary, E+S Rückversicherung AG, has predicted further price increases and improved conditions in the 1 January 2024 renewals in property and casualty reinsurance, according to its comments at the 2023 reinsurance gathering in Baden-Baden. Dr Michael Pickel, Chief Executive Officer of E+S Rück, commented, "We must assume that ... Read the full article
Federal Life, Hannover Re & Vidale Marketing bring later life annuity solution to US consumers
17th October 2023
Federal Life Insurance Company, a provider of insurance and annuity products, has teamed with global reinsurer Hannover Re, and later life insurance specialists Vidale Marketing Group, to bring a later life annuity solution to US consumers. The new solution, MyImmediateCarePlan (MyICP), is a medically underwritten single premium immediate annuity available to ... Read the full article
Hannover Re’s Muehlbeyer highlights need for expanded capacity in cyber re/insurance market
26th September 2023
In a recent webinar titled "Cyber ILS – How can it be brought to the capital markets?" hosted by Twelve Capital, Max Muehlbeyer, Senior Underwriter for Retrocessions & Capital Markets at Hannover Re, shed light on the challenges and opportunities facing the cyber insurance and reinsurance sectors. Muehlbeyer underscored the burgeoning ... Read the full article
Society needs to accept the price of risk is increasing: Hannover Re CEO
11th September 2023
In the current market environment, there are clearly pressure points in the risk transfer value chain, but the reality is that the price of risk is increasing and this is something that society needs to accept, according to Jean-Jacques Henchoz, Chief Executive Officer (CEO) of Hannover Re. Speaking this morning at ... Read the full article
Further price increases & improved T&Cs expected at Jan 1: Hannover Re
11th September 2023
Hannover Re has noted that it anticipates further price increases and improvements in terms and conditions in the renewals at 1 January 2024 in P&C reinsurance, citing ongoing geopolitical uncertainties, increasing frequency and severity of natural catastrophe losses, as well as unchanged high inflation rates and social inflation as key ... Read the full article
Europe’s big four reinsurers saw improved average P&C combined ratio in H1’23: Fitch
23rd August 2023
Europe's big four reinsurers reported an average property and casualty (P&C) combined ratio of 89.2% in the first half of 2023, a 4.1 percentage point improvement on the prior year as the catastrophe load eased, reports Fitch Ratings. The ratings agency highlights that underwriting margins in P&C improved for three of ... Read the full article
Munich Re ranked largest reinsurer for third year running by AM Best
22nd August 2023
After taking the top spot from Swiss Re in 2020, the latest data from ratings agency AM Best confirms that German reinsurer Munich Re remains the world's largest reinsurance company when ranked by gross life and non-life premiums written in 2022. With reinsurance gross premiums written (GPW) of ... Read the full article
Supply demand equation in reinsurance will not fundamentally change, says Hannover Re CEO
10th August 2023
Jean-Jacques Henchoz, the Chief Executive Officer (CEO) of Hannover Re, said on the company’s earnings call yesterday that there's no signs of a significant influx of capital entering the reinsurance market, with the current supply demand dynamics expected to persist. "Generally, I think the momentum in the market has continued this ... Read the full article
Hannover Re’s H1 reinsurance revenue climbs 3.9% to €12.3bn
9th August 2023
Global reinsurer Hannover Re has reported that H1 reinsurance revenue increased by 3.9% to €12.3 billion, as large losses within the P&C reinsurance segment fell within the budgeted expectations. Hannover Re's H1 2023 reinsurance service result, which reflects the profitability of underwriting activity less business ceded, surged by 56% to €1.1 ... Read the full article
Average ROE of reinsurers in Fitch peer group decreased to 1.2% in 2022
6th July 2023
A group of reinsurers in Fitch Ratings' universe saw their average return on equity (ROE) fall from 8.5% in 2021 to 1.2% in 2022 as mark-downs on investments, high inflation and increased losses from natural catastrophes drove a significant dip in profits. The global reinsurance companies in the peer group are ... Read the full article
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