Hannover Re
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Hannover Re’s CEO said the market had been disciplined. -
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The reinsurer’s large losses tallied up to EUR1.3bn for the nine-month period to 30 September.
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He succeeds Christian Hermelingmeier, who is set to become Hannover Re’s new CFO.
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The outgoing CEO will leave the company at the end of March 2025.
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The reinsurer is planning to drop its cession rate from 40% to 30%-35%.
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The carrier’s EUR6bn structured reinsurance team is set to grow.
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Plus the latest people moves and all the top news of the week.
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Scor disclosed L&H troubles while Swiss Re continued reserving for US casualty.
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Clemens Jungsthöfel said Hannover Re was sticking with its first-quarter approach.
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German floods were the carrier’s largest H1 loss, at EUR120mn.
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Combined ratios improved all around thanks to better pricing and a benign cat quarter.
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