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Nat-cat events triggered A$1.36bn of losses during the year. -
Company alum David Murie will lead the new business unit.
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The carrier’s profit grew 34% for the year to A$1.35bn.
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Layla O’Reilly and Mark Edwards are among the brokers leaving the firm.
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The estimate covers property and vehicle claims.
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The Hannover Re CEO said rate adequacy remains “attractive” overall.
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California wildfires were the reinsurer’s largest H1 loss, at EUR615.1mn.
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Both organisations still predict an above-average hurricane season.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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The reinsurer chair said the frequency of losses today “will prevent prices from slipping too much.
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The P&C re segment’s combined ratio improved by 12.7 points to 61.0%.
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The Swiss carrier improved its P&C combined ratio by 1.2 points to 92.4%.
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