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20 October 2017

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Hannover Re, Talanx warn on 2017 profit following cat losses

Catrin Shi 21 September 2017

Hannover Re today warned it may not achieve its full-year 2017 profit guidance of more than EUR1.0bn ($1.2bn) following the string of large loss events in the third quarter.

The reinsurer said it believed its yearly large loss budget of EUR825mn would be able to absorb the impact of hurricanes Harvey and Irma.

However, Hurricane Maria and the most recent earthquake in Mexico will "give rise to further substantial strains" which will exceed the large loss budget, Hannover Re said...


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