Hannover Re
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No early indication that reinsurance pricing is catching up with insurance rate acceleration. -
The Hannover Re parent says profitability improved across all divisions.
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The carrier notes an underwhelming industry response at 1 January to recent natural catastrophe losses.
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NDF Deutschland will work in tandem with a parallel UK-backed vehicle to mitigate developing world nat cat and climate change risk.
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The division came under new leadership in May and is on track to meet its targets.
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The executive focused on casualty classes, including motor, liability and professional indemnity.
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The four European carriers have significantly outpaced Bermudian reinsurers in GWP growth so far this year.
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The industrial lines unit, which now includes HDI Specialty, swings top an operating profit.
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Carrier pegs industry-wide Faxai and Dorian losses at $5bn-$7bn each.
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Citi and RBC see ample room in the full-year cat budget for Hagibis claims.
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Losses from natural catastrophes and Thomas Cook push the carrier into an underwriting loss within the P&C reinsurance unit.
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The Hannover Re executive predicts stronger rate growth in the US.
