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Vincent Hermenier joined Hannover Re in 2004. -
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As with 2024, pricing pressure has been most acute on top layers.
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The reinsurer reported EUR2.1bn GWP for the year.
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The executive will be global reinsurance CEO and climate solutions chair.
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The Japanese carrier noted the impact of increasing natural disasters.
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Holmes, Froideval and Cheak will head up the units for London, Europe and Asia.
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The company’s parent MS&AD reported group profit of 691bn yen for the year.
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The carrier benefited from top-line growth and lower adverse PYD.
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P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
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The syndicate-in-a-box is the first Lloyd’s syndicate to operate outside London.
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Tornadoes have killed at least 32 people in three states.
