Hannover Re
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Combined ratios improved all around thanks to better pricing and a benign cat quarter. -
After an unexpected charge in Q4 last year, the carrier feels “very comfortable” with its reserving position.
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At group level, Hannover Re's operating income grew by 15% to EUR558.1mn.
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Stefan Sperlich will lead the new division as managing director.
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Hard-won profitability has given carriers room to salt away reserves.
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The reinsurer’s solvency ratio currently stands at 269%.
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The recruit will run E+S Rück and part of European reinsurance.
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The carrier has also recruited Swiss Re’s Thorsten Steinmann.
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Opportunities for profitable growth remain in 2024, the agency said.
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Being underweight US casualty gives the firm more room than peers to manoeuvre.
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The carrier said a tax windfall and better profits made bolstering possible.
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The carrier increased premium volume by 6.9% at 1 January.
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