Brokers push for tightening of Middle East “escalation clause” wordings at 1.1Reinsurance brokers have been pushing to remove or clarify the language of Middle East conflict escalation clauses that certain reinsurers inserted into specialty treaties at 1 January 2024, The Insurer understands.
Munich Re willing to walk away from business after excluding cyber war from entire portfolioMunich Re is willing to give up market share after excluding cyber war from its primary insurance and reinsurance books, according to management board member Stefan Golling.
Litigation financing could leave a number of casualty risks uninsurable: Hannover Re’s HenchozHannover Re CEO Jean-Jacques Henchoz has warned the industry that a number of casualty risks could become uninsurable in the future if nothing is done to rein in the litigation finance industry.
Hannover Re’s Henchoz: Pressure from investors means reinsurers don’t have opportunity to relaxHannover Re CEO Jean-Jacques Henchoz explains to The Insurer that he expects a relatively stable renewal at 1.1 with capacity likely to meet demand – but not at any price.
AM Best: Big four Euro reinsurers’ earnings continue to benefit from hard marketOn the eve of Monte Carlo, AM Best has highlighted that continued hard market conditions have driven “strong results” in 2023 and the first half of 2024 for the non-life reinsurance divisions of Europe’s four largest reinsurers.
Europe’s big four reinsurers continue P&C performance improvement in Q2Europe’s four major reinsurers all reported a year-on-year improvement in P&C combined ratios in the second quarter despite a series of international catastrophe losses during the period.
Talanx reports improved 91.2% CR for H1 2024Talanx Group has reported a combined ratio of 91.2 percent for the first half of 2024, an improvement of 2.5 percentage points on the prior year period.
Magee to succeed Miller on Hannover Re exec boardHannover Re has appointed Brona Magee to its executive board with Klaus Miller set to move into an advisory role.
Hannover Re maintains FY guidance as P&C growth surges ahead of consensusHannover Re reported a combined ratio of 87.6 percent for the second quarter of 2024 with operating profit up 46 percent year on year to €532mn in its P&C reinsurance business.
Schroders-Hannover Re opt for industry loss index trigger for tokenised ILS pilotA proof of concept for tokenised ILS contracts run by investment manager Schroders Capital and reinsurance giant Hannover Re utilises industry loss indices as settlement data, The Insurer can reveal.
Schroders Capital launches blockchain ILS pilot with Hannover ReSchroders Capital has partnered with Hannover Re to pilot a tokenised approach to ILS contracts.
European reinsurers on track to beat FY targets following strong Q1 profitsEurope’s big four reinsurers benefited from a benign quarter for natural catastrophes with the quartet all posting combined ratios in the 80s or, in Munich Re’s case, below.
Hannover Re share price dip “hard to rationalise” following Q1 beat: BerenbergBerenberg analyst Tryfonas Spyrou believes heightened expectations following Munich Re’s surprisingly strong Q1 earnings beat was one of the likely drivers behind a muted market reaction to peer Hannover Re’s quarterly trading update on Tuesday.
Hannover Re’s Althoff: Reinsurance outlook stable amid supply-demand equilibriumHannover Re has forecast a stable P&C reinsurance pricing environment through 2024 and into 2025 with the lack of significant new entrants in the space creating a supply-demand equilibrium.
Hannover Re reports 88% CR with Baltimore loss “comfortably within budget”Hannover Re has confirmed its full-year profit targets after group net income rose 15 percent to €558mn ($602mn) during the first quarter of 2024.
Hannover Re’s Henchoz doubles down on earnings growth potentialHannover Re CEO Jean-Jacques Henchoz has told investors that he anticipates increasing demand, rising insurance values and the prevalence of new risks such as cyber to drive further earnings growth under its current three-year strategy cycle.
Proxy advisers question independence of Hannover Re supervisory boardProxy adviser Institutional Shareholder Services has recommended that investors vote against the re-election of Hannover Re’s supervisory board chairman Torsten Leue at the reinsurer’s upcoming annual general meeting.
Ludolphs: Parametric cloud outage cat bond can help investors build diversified cyber portfolioHannover Re’s issuance of a parametric cat bond was launched to address the reinsurer’s significant accumulation potential to cloud outage risk, but managing director Henning Ludolphs hopes the concept will gain traction across the market in the long term.
Hannover Re launches parametric cat bond for cloud outage accumulation riskHannover Re has partnered with cyber MGA Parametrix to launch a first-of-its-kind catastrophe bond that securitises cloud outage risk to provide the reinsurance giant with incremental retrocession protection.
Fresh Hannover Re and Canopius aviation ri capacity limits reinsurers’ push for larger 1.4 rate risesAdditional aviation reinsurance capacity from Hannover Re and Canopius limited the broader market’s ambition to negotiate more significant rate increases at the 1 April renewals, with brokers able to leverage this capacity for better pricing.