Hannover Re
-
The former Hannover Re CEO said reinsurers must use alternative capital and tech. -
The reinsurer’s new CEO said he sees no need for a radical shift in strategy.
-
The mid-year renewals point to mounting pressure on reinsurance pricing.
-
Plus, the latest people moves and all the top news of the week.
-
The Hannover Re CEO said rate adequacy remains “attractive” overall.
-
California wildfires were the reinsurer’s largest H1 loss, at EUR615.1mn.
-
Hannover Re’s CEO is lowest paid among peers, despite their pay growing 77% since 2015.
-
Vincent Hermenier joined Hannover Re in 2004.
-
P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
-
The reinsurer said the LA wildfires would have a “dampening effect” on mid-year renewals.
-
The reinsurer's group operating income fell by 14% to EUR480.5mn.
-
The business, which has ~EUR300mn of book value, is expected to launch a process.
