Munich Re
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Hannover Re’s CEO is lowest paid among peers, despite their pay growing 77% since 2015. -
New entrants to the line of business have heightened competition for talent.
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P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
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Plus the latest people moves and all the top news of the week.
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The carrier’s share price dropped 3.6% on its Q1 results.
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The executive said secular heightened risk trends would fuel the carrier’s primary expansion.
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The carrier booked EUR800mn in LA losses in the P&C segment.
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Simon Horton spent 10 years at Marsh before joining AIG last year.
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It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
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Several insurers and MGAs have launched into the class of business over the past year.
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The executive has managed both casualty and personal lines reinsurance books.
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Reinsurance made up 12% of the syndicate’s 2024 GWP.
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