Hannover Re News

Fitch’s Reinsurance Outlook Remains Negative, Despite Entry into Hard Market Phase

Fitch Ratings said yesterday its ratings outlook for companies in the global reinsurance sector will continue to remain negative as a result of hefty coronavirus claims and low interest rates. The good news for companies, however, is that the market …

Major Reinsurers Brace for Large Losses from Beirut Port Blast

Some of the world’s biggest reinsurers are bracing for potential losses running into tens of millions of euros after last week’s explosion that ravaged much of downtown Beirut. Property damage alone from the blast, which killed more than 150 people …

Hannover Re’s CFO Vogel to Retire, Succeeded by Jungsthöfel from HDI Global

After more than 30 years at Hannover Re, Chief Financial Officer Roland Vogel (60) will retire on Sept. 30, 2020. He will be succeeded by Clemens Jungsthöfel, currently chief financial officer of HDI Global SE. Jungsthöfel, in turn, will be …

Global Re Forum Taps PartnerRe’s Clarke as Chair, Hannover Re’s Henchoz as Vice Chair

The Global Reinsurance Forum (GRF) has appointed Emmanuel Clarke, president and CEO of PartnerRe for a two-year term. He succeeds Kevin J. O’Donnell, CEO of RenaissanceRe, who became chairman in 2018. Jean-Jacques Henchoz, CEO Hannover Re, was named vice chairman. …

Hannover Re, Parent Firm Talanx Withdraw 2020 Profit Guidance on Virus Uncertainties

In view of the ongoing COVID-19 crisis and the associated uncertainties surrounding both the claims development and the capital market environment, Hannover Re and its parent company, Talanx, have withdrawn their profit guidance for 2020. “It is still too soon …

Germany, Global Parametrics, Hannover Re Launch Climate Impact Fund

Hannover Re and a parametrics company along with several German economic development agencies have created a natural disaster fund targeting investments in risk-transfer instruments relating to natural catastrophes and climate risks in developing markets. The fund — the Natural Disaster …

Reinsurers Maintain Upward Pricing Momentum—But Will It Last?

Positive pricing momentum—it’s the favorite phrase of many reinsurance executives, who are hoping that the momentum they’ve seen in 2019 will continue during the coming January renewals and beyond. The question is whether they will be disappointed, once again. Over …

Reinsurers Look at Cyber’s Massive Growth Possibilities—With Caution

Reinsurers are aware they must constantly invent new solutions in order to stay relevant for their clients. Yet, they admit they are sometimes challenged to close the protection gap for new and emerging risks such as cyber. Cyber is actually …

Dutch Insurer Weighs Cutting Cover for Gambling, Arms, Nuclear Power

Europe’s biggest insurers refuse to sell policies to coal miners and arms producers. A Dutch firm may go further by denying coverage to gambling companies and nuclear-power generators. The asset-management arm of ASR Nederland NV already has a list of …

Henchoz Succeeds Wallin as Hannover Re’s Chief Executive Officer

Hannover Re announced that Jean-Jacques Henchoz has stepped into the role of chief executive officer, succeeding Ulrich Wallin who is retiring. Prior to joining Hannover Re, Henchoz had been in charge of the region Europe, Middle East and Africa (EMEA) …