Latest Hannover Re Headlines
All the headlines from our Hannover Re Topic Page, ordered by recency.
Hannover Re Launches “Sharia-compliant” Reinsurance Sub
Dec 11 2006 // Germany’s Hannover Re has established Hannover ReTakaful B.S.C. (c) in Manama, Bahrain, a wholly-owned subsidiary to underwrite worldwide reinsurance in conformity with Islamic law (so-called retakaful business). The...
Hannover Re Posts $486 Million Half-Year Net Income
Nov 15 2006 // Germany’s Hannover Re joined the expanding list of large reinsurers who are having a pretty good year due to the decline in natural catastrophes. The Group earned €380 million ($486 million) in the first six months...
Hannover Re Receives China License
Nov 13 2006 // Germany’s Hannover Re announced that it has received a license from the China Insurance Regulatory Commission (CIRC) to transact life and health reinsurance in the People’s Republic of China. “We are...
Best Affirms ‘A-‘ Ratings on Hannover Re U.K. Sub
Aug 30 2006 // A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) of International Insurance Company of Hannover Limited (Inter Hannover), the U.K.-based subsidiary of Germany’s Hannover Re....
Best Affirms Hannover Re’s “A” Ratings; Removes from Review
Aug 30 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s Hannover Rueckversicherung AG (Hannover Re) and its...
Hannover Re on Track to Make Profit Goals; Q2 Net up 2% to $193.7 Million
Aug 8 2006 // “Our result as at 30 June is a good basis for achieving our 2006 profit target, namely a return on equity of at least 15 percent,” stated Hannover Re’s CEO William Zeller, as he presented the German...
Hannover Re $150 Million Cat Bond Covers European Windstorm Risks
Aug 1 2006 // Germany’s Hannover Re announced that Eurus Ltd., a special purpose vehicle, has issued a CAT bond with a volume of $150 million, giving the reinsurer windstorm protection with immediate effect for a term of...
Hannover Re Q1 Net Income up 7.6% to $136 Million
May 12 2006 // Germany’s Hannover Re’s first quarter earnings report expressed considerable satisfaction with its start to the new financial year. “With our quarterly result we have taken a first major step towards...
Hannover Re 2005 Pretax Net Income Down 89.8% to $57.78 Million
Mar 27 2006 // Germany’s Hannover Re managed to eke out a small profit in 2005, despite over a billion dollars in hurricane losses, due to investment income. The company posted pretax profits of €48 million ($57.78 million) an...
Hannover Re Reorganizing U.S. Business with Praetorian Launch; S&P Ratings and Comments
Mar 8 2006 // Germany’s Hannover Re has announced a fundamental restructuring its U.S. primary insurance business. “All specialty business – henceforth the strategic focus – is to be transferred to the newly...
S&P Affirms Hannover Re, Clarendon Ratings; Off CreditWatch
Jan 23 2006 // Standard & Poor’s Ratings Services announced that it has “affirmed its long-term counterparty credit and insurer financial strength ratings on Hannover Rückversicherung-AG and its core entities...
Best Affirms FSR for Clarendon Group
Jan 18 2006 // A.M. Best Co. has assigned a financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” to the newly formed Praetorian Financial Group (Praetorian) (Wilmington, Del.) and its...
S&P Keeps Talanx, Hannover Re on CreditWatch/Negative
Nov 15 2005 // The Frankfurt office of Standard & Poor’s Ratings Services has issued a comment following Hannover Re’s 9-month earnings report (See IJ Web site Nov. 10), indicating that the company and its largest...
Fitch Rates Hannover Re ‘A+’
Nov 11 2005 // Fitch Ratings announced that it has affirmed Hannover Rueckversicherung AG’s (Hannover Re) and E+S Rueckversicherung AG’s Insurer Financial Strength (IFS) ratings of “A+”. Fitch also affirmed...
S&P Puts Hannover Re, Clarendon on CreditWatch/Negative
Nov 11 2005 // While Fitch Ratings decided to affirm its “A+” ratings on Hannover Re and its subsidiaries (See following article), Standard & Poor’s Ratings Services has adopted a wait and see attitude. S&P...
Hannover Re Posts 9 Month Losses over $1 Billion
Nov 10 2005 // Germany’s Hannover Re, the world’s third largest reinsurer, has been hit with a commensurately large share of the losses from Katrina, Rita et. al. The company’s 9 month report notes an “exceptional...
Talanx in Talks to Acquire Gerling’s Primary Operations; S&P, Best Place Ratings Under Review
Nov 9 2005 // Germany’s Talanx AG, which among other interests holds a 51 percent stake in Hannover Re (and consequently Clarendon in the U.S.), is currently in “advanced talks” to acquire the Gerling Group’s...
Clarendon Clarifies Hannover Re Decision on Programs
Sep 5 2005 // Many people questioned what Hannover Re’s Chief Executive Wilhelm Zeller, meant when he announced a “new strategy” for its U.S. subsidiary, Clarendon Insurance Group. Presiding over the German...
Clarendon Clarifies Hannover Re Decision on Programs
Sep 5 2005 // Many people questioned what Hannover Re’s Chief Executive Wilhelm Zeller, meant when he announced a “new strategy” for its U.S. subsidiary, Clarendon Insurance Group. Presiding over the German...
Hannover Re Estimates Katrina Losses at $314 Million; Lowers 2005 Forecast
Sep 2 2005 // Germany’s Hannover Re has issued a statement indicating that it will be “heavily impacted by Hurricane ‘Katrina.'” It estimates net losses before tax at around $250 million euros ($314 million), but...
