Hannover Re
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Some of the Big Four are slowing growth as the market softens. -
For the prior-year quarter, the carrier reported a EUR9mn loss.
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The carrier is likely to exceed its Q1 large-loss budget due to the California wildfires.
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The carrier reported cat price reductions of 5.4% at the January renewals.
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Julia Willberg joins from Hannover Re, where she has held several senior roles.
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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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