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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 reinsurer’s CFO cited a 1.5% net price reduction year to date.
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The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
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Renewable retrospective solutions were a key point during the discussion.
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The revision is significantly lower than the $4.5bn October estimate.
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Soft conditions have led to “less acute" underwriting discipline, sources said.
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The market has broadened its risk appetite and infrastructure over the years.
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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.
