Hannover Re News

More Insurers Weigh Joint Strategy to Climate Change as They Assess Antitrust Risk

Insurers are being forced to rethink their approach to climate change as they assess the risk of being sued for antitrust violations. Munich Re, the world’s biggest reinsurer, recently backed out of the Net Zero Insurance Alliance citing what it …

Pew: 7-in-10 Americans Favor Steps to Become Carbon Neutral by 2050

Cannabis enthusiasts have the 4/20 holiday, but in two days some 7.9 billion people have cause to celebrate. Earth Day is Saturday, and while today’s eyes are on the cannabis holiday, the media is already starting to turn coverage to …

Hannover Re Latest Company to Leave Net-Zero Insurance Alliance

German reinsurer Hannover Re on Wednesday became the third major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States. Hannover said in an emailed statement that it was …

Hannover Re Transfers Cyber Risks to Capital Markets via Proportional Reinsurance

Hannover Re has developed an additional retrocession tool that for the first time enables the capital markets to participate directly in coverage of its cyber risks through a quota share cession. Longstanding partner Stone Ridge is supporting the transfer with …

Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit

Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance …

Insurers May Refuse to Cover Planes, Ships Exposed to Ukraine Conflict: Sources

Insurers may refuse to cover planes flying to Ukraine or ships sailing through the Black Sea as reinsurers – who insure the insurers – propose excluding the region from policies from next month, four industry sources said. Reinsurers typically renew …

Ship Reinsurers to Cease Covering War-Related Risks Related to Conflict in Ukraine

Some of the biggest names in ship reinsurance are days away from ceasing to cover key war-related risks for vessels going to Russia and Ukraine, a potential source of alarm for shipping firms moving everything from oil to grains. Hannover …

People Moves: BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE; Hannover Re Appoints Swiss Re’s Ooi to Oversee P/C Growth in APAC

This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and Hannover Re. A summary of these new hires follows here. BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE Berkshire Hathaway Specialty Insurance (BHSI) announced …

Natural Disasters, Ukraine War Weigh on Q1 Results of Europe’s Major Reinsurers

Three out of four of the major European reinsurers reported their profits were negatively affected as a result of elevated natural catastrophe claims and a first round of claims reserves from the Russia-Ukraine war, according to Fitch Ratings in a …

Hannover Re Opens Access to Insurtech Innovation Platform, ‘hr | equarium’

Hannover Re has opened access to its innovation platform for all interested parties. Launched in 2019, hr | equarium connects insurance clients with insurtech partners. The platform has been used on a regular basis by more than 700 clients of …