Hannover Re

Hannover Re said it was in discussions with retro partners about buying less in 2024.

The firm’s insurance revenue result was pulled down by currency effects among other factors.

As the curtain comes down on the millionth Monte Carlo Rendez-Vous, and the prices in the cafes and restaurants are presumably reset to their customary levels, the conference has again done its main job.

Chairman and CEO Jean-Jacques Henchoz sees affordability of insurance becoming a politicised issue, while discussions on preventive measures remain on the sidelines.

Our virtual roundtable polled industry leaders on critical questions for the reinsurance market. Today, we explore how the industry can collaborate on net-zero objectives after insurers exited the Net-Zero Insurance Alliance (NZIA) in droves.

CEO Jean-Jacques Henchoz said it was “difficult to find a positive trend” in the global risk outlook.

Our virtual roundtable polled senior industry figures on the biggest questions facing the reinsurance industry. Today, we look ahead to the influences steering M&A market conditions.

Swiss, Munich, Hannover and Scor all delivered optimistic messages on pricing for next year.

The (re)insurer’s CEO Jean Jacques Henchoz said that Hannover Re remains on track for its full-year combined ratio target of 91-92%.

The carrier’s largest loss in H1 arose from the earthquake in Turkey and Syria, resulting in a EUR257mn charge.

After founder members Axa and Allianz dealt a potentially terminal blow to the Net-Zero Insurance Alliance by withdrawing, the NZIA is exploring limited options to continue.

Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.