Hannover Re
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The company’s executives forecast further price increases and improvements in conditions across the board for 1.1 treaty renewals. -
Swiss Re, Munich Re, Hannover Re and Scor have set out their strategies on inflation, pricing and Ukraine.
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The reinsurer so far has made no claims on its retro protections for war-related impacts.
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Sharon Ooi joins Swiss Re’s executive board and will be based largely in Hong Kong.
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The carrier booked EUR316mn in reserves for Ukraine during the first half.
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Ukraine uncertainties remain despite some loss estimates emerging in Q1 earnings across the Big Four European carriers, while inflation looms on the horizon.
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The carrier decided against booking a precautionary aviation charge due to a “lack of clarity”.
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The carrier also took heavier-than-budgeted major losses of EUR336mn.
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On its earnings call, the company also announced it is buying reinsurance and retro cover on an all risk and war basis.
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The unit profited despite large losses over 2021 of EUR1.1bn.
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The reinsurer said it was anticipating increased volume for catastrophe bonds and collateralised reinsurance this year.
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Scor’s renewals update denotes a continued push to control volatility while Hannover Re is focused on growth.
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