All Hannover Re articles – Page 2
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NewsHannover Re’s E+S Rück bullish on positive rate development in 2020
Hannover Re’s German business subsidiary – E+S Rück – has forecast rising prices and improved conditions overall in property and casualty reinsurance in the German market in 2021 as the Covid-19 pandemic and continued decline in interest rates forces prices higher.
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News
Hannover Re expects “mid-double-digit-million euro” loss from Beirut blast
Reinsurance giant Hannover Re expects a “mid-double-digit-million euro” loss from the August explosion at the Port of Beirut and pegged the total insured market loss at circa $1bn.
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News
Hannover Re: 1.1 rate increases are “absolutely essential”
Against a backdrop of low interest rates and losses from the Covid-19 pandemic on a par with 9/11 or Hurricane Katrina, Hannover Re has said 2021 P C rate increases are “absolutely essential”.
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News
Hannover Re’s Henchoz: European market stabilising by rate hardening
Covid-19 is set to fuel pricing momentum in Europe at the upcoming 1.1 renewal despite the region being spared from large natural catastrophe events, but there are some lines that need more firming, Jean-Jacques Henchoz told The Insurer .
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Mexican reef parametric scheme renews with Hannover Re backing
Hannover Re has provided reinsurance backing for the renewal of the MXN42.5mn ($1.9mn) Mexican Reef Protection Program, with the product structured by climate resilience specialist Global Parametrics.
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Analysis
Markets Review: Munich Re surges to lead buoyant August for Euro P&C stocks
Munich Re’s shares added over 9 percent over August as Euro-listed P C stocks closed out the month with healthy gains on a massive market-wide run on optimism of an economic reopening.
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Analysis
European big four eye hard market opportunities after $4.2bn H1 Covid-19 hit
Europe’s big four reinsurers booked close to $4.2bn of Covid-19 P C claims between them during the first half of 2020, but the majority of the reserves remain IBNR with only a small portion of claims notified.
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News
Hannover Re announces CFO transition as Vogel retires
Clemens Jungsthöfel is to become chief financial officer of Hannover Re with effect from 1 September.
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Beirut: Low to mid multi-billion loss likely but information scarce amidst chaos
Despite the chaos and information void regarding the scale of damage and causation factors from the devastating 4 August Beirut Port explosion, early indications are that industry losses could be in the region of $4bn-6bn with distribution affecting global reinsurers and specialty lines including marine and cargo.
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News
Beirut explosion “pretty certain” to be a major loss for Hannover Re
High levels of insurance penetration in the Lebanese capital city’s port will likely mean yesterday’s explosion in Beirut will result in a major loss for Hannover Re, according to the carrier’s P C head, Sven Althoff.
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News
Hannover Re falls to Eur161mn U/W P&C loss as H1 Covid losses climb to Eur600mn
Talanx-owned Hannover Re has fallen to a P C underwriting loss of $160.7mn – compared to a profit of Eur195.9mn in the same period last year – as Covid-19 related exposures climbed to Eu600mn in the six month period.
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News
PartnerRe’s Clarke named new Global Reinsurance Forum head
The Global Reinsurance Forum (GRF) has named PartnerRe CEO Emmanuel Clarke as chairman for a two-year term, succeeding RenaissanceRe’s Kevin O’Donnell, who became chairman in 2018.
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News
Hannover Re Bermuda CEO Rentrup retires
Longstanding Hannover Re Bermuda CEO Konrad Rentrup is to retire after more than 30 years with the German reinsurance giant, handing over the reins to Chantal Cardinez.
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News
Jefferies warns on lack of retro in Hannover Re’s credit and surety book
Investment bank Jefferies has warned that the lack of retrocessional cover in Hannover Re’s credit and surety book may prompt earnings downgrades in the second quarter as Covid-19 exposures bite despite the German carrier standing apart as “relative safe haven” during the equity market turmoil.
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News
Hannover Re proceeds with Eur5.50 dividend despite Eiopa call
Hannover Re is to push forward with its proposed Eur5.50 ($5.95) per share dividend after shareholders approved the move despite the carrier withdrawing its 2020 profit guidance amidst the Covid-19 crisis.
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News
Hannover Re reveals “relatively small” Olympics exposure
German reinsurance giant Hannover Re has revealed that its maximum exposure to the postponement of the 2020 Tokyo Olympic Games is $50mn, well within the Eur220mn ($237.9mn) it disclosed it had set aside for complex claims associated with the coronavirus pandemic this morning.
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News
Talanx drops Eur900-950mn 2020 profit target over Covid-19 “uncertainties”
German insurance group Talanx has pulled its 2020 net income target of “more than Eur900mn” to Eur950mn over uncertainties relating to the coronavirus outbreak.
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News
Beazley and Hannover Re lead Euro-listed carriers trading at premium to book
London-listed Beazley and reinsurance giant Hannover Re are both trading at a significant premium to year-end book value following the rebound in global equities that swept European markets last week.
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News
European (re)insurance equites fall as crude tumbles on renewed virus fears
European (re)insurance equities slipped in early trading on Monday as recurrent coronavirus jitters and renewed pressure on oil prices dented investor confidence.
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Analysis
European reinsurers face ratings downgrades on virus market turmoil
Financial market disruption stemming from the spread of the coronavirus is the main threat to the credit profiles of European reinsurers while prolonged equity market stress as well as dwindling interest rates could lead to ratings downgrades, according to Fitch Ratings.
