Hannover Re

EQS-News: Hannover Re beats full-year earnings target and raises dividend

Retrieved on: 
Wednesday, April 10, 2024
Disease, Annual, EUR, Hurricane Otis, Growth, Supervisory board, S&P Global Ratings, CSM, Environment, Risk, Life, Wildfire, Mortality, Insurance, Flood, Investment, Hannover Re

This is comprised of an ordinary dividend of EUR 6.00 (EUR 5.00) per share and a special dividend of EUR 1.20 (EUR 1.00) per share.

Key Points: 
  • This is comprised of an ordinary dividend of EUR 6.00 (EUR 5.00) per share and a special dividend of EUR 1.20 (EUR 1.00) per share.
  • We were able to beat our earnings target and significantly increase the dividend.
  • At the same time, we further strengthened Hannover Re's resilience," said Jean-Jacques Henchoz, Chief Executive Officer of Hannover Re.
  • The ordinary dividend will be supplemented by a special dividend provided the capitalisation exceeds the capital required for future growth and the profit target is achieved.

EQS-News: Hannover Re appoints Thorsten Steinmann to the Executive Board to succeed Michael Pickel, who will retire

Retrieved on: 
Wednesday, April 10, 2024
Supervisory board, AG, S&P Global Ratings, Risk, Insurance, Life, Hannover Re, Peninsula, Steinmann

Hannover Re appoints Thorsten Steinmann to the Executive Board to succeed Michael Pickel, who will retire

Key Points: 
  • Hannover Re appoints Thorsten Steinmann to the Executive Board to succeed Michael Pickel, who will retire
    The issuer is solely responsible for the content of this announcement.
  • Hannover Re appoints Thorsten Steinmann to the Executive Board to succeed Michael Pickel, who will retire
    Hannover, 18 March 2024: The Supervisory Boards of Hannover Rück SE and E+S Rückversicherung AG have appointed Thorsten Steinmann (51) as a member of the Executive Board of Hannover Re and E+S Rück effective 1 September 2024.
  • He will succeed Michael Pickel (63), who will retire on 31 December 2024 after 25 successful years at Hannover Re.
  • I wish him every success in his new role,” said Torsten Leue, Chairman of the Supervisory Board of Hannover Re and E+S Rück.

EQS-News: Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit

Retrieved on: 
Wednesday, April 10, 2024
Partnership, Life, Insurance, Mathematics, Hannover Re, S&P Global Ratings, Reinsurance

Hannover, 26 March 2024: Hannover Re will combine its global business in the areas of cyber and digital to further strengthen its underwriting expertise by creating a new specialty reinsurance business unit.

Key Points: 
  • Hannover, 26 March 2024: Hannover Re will combine its global business in the areas of cyber and digital to further strengthen its underwriting expertise by creating a new specialty reinsurance business unit.
  • Effective 1 April 2024, the new business unit will further enhance Hannover Re’s position as a trusted business partner for insurtechs and clients seeking coverage for cyber risks both in treaty and facultative reinsurance.
  • Especially reinsurance coverage of cyber business benefits from a centralised approach on a portfolio-level with regards to diversification, accumulation and cycle management.
  • The new unit will be located in Hannover and consists of Hannover Re’s highly experienced underwriters and experts in cyber and digital risks.

Hannover Re US Partners with GalenusRx for Personalized, Precision Medication Safety Services

Retrieved on: 
Friday, March 15, 2024
Professional Services, Health, Genetics, Insurance, Health Insurance, Finance, Pharmaceutical, Disease, Drinking fountain, S&P Global Ratings, Lifesaving, Partnership, Patient, Research, DNA, Mortality, Death, Life, Risk assessment, Hannover Re, Pharmacy, Safety, Polypharmacy, Multimedia, Consultant

Together, these solutions point the way toward efficacy and safety — with optimized medication regimens, reduced polypharmacy, and lowered medical expenses.

Key Points: 
  • Together, these solutions point the way toward efficacy and safety — with optimized medication regimens, reduced polypharmacy, and lowered medical expenses.
  • “We are delighted to partner with GalenusRx to offer its technology and services to our healthcare clients through their brokers and consultants.
  • “Through this partnership with GalenusRx, Hannover Re US will support its healthcare clients to improve quality and outcomes.
  • For more information, please visit www.hannover-re.com
    Founded in 2023 by a team of internationally recognized healthcare leaders, GalenusRx is revolutionizing medication safety with precision.

EQS-News: Hannover Re confirms guidance for 2024 on the back of further improvements in terms and conditions and sustained attractive prices

Retrieved on: 
Wednesday, February 7, 2024
Growth, Aviation, Life, Hannover Re, Wind, Weather, Riot, S&P Global Ratings, SRCC, ILS, Risk, EUR, Insurance, Reinsurance

This corresponds to 62% of business in traditional property and casualty reinsurance (excluding facultative reinsurance, ILS business and structured reinsurance).

Key Points: 
  • This corresponds to 62% of business in traditional property and casualty reinsurance (excluding facultative reinsurance, ILS business and structured reinsurance).
  • As in the previous year, Hannover Re grew its book of non-proportional reinsurance more strongly in the renewals.
  • Rate increases and improvements in terms and conditions were especially marked in loss-impacted natural catastrophe business.
  • A shift towards non-proportional coverage is still evident, which should lead to further improvements in prices and conditions.

EQS-News: Parity still a long way off / FidAR Forum 2024 calls for substantial progress in increasing the proportion of women in management positions in Germany

Retrieved on: 
Monday, February 5, 2024
Supervisory board, SAP, Financial services, CFO, Hannover Re, DAX, Regulated market, ESMT, Sustainability, Old age, SDAX, Labour, Parity, Commerzbank, Salzgitter, MDAX, Bechtle, Management, Zalando, Federation, Hope, Siemens Healthineers, European School, Woman, BASF, Property management

Berlin, 31.01.2024: DAX companies are leading the way when it comes to equal participation of women in Germany.

Key Points: 
  • Berlin, 31.01.2024: DAX companies are leading the way when it comes to equal participation of women in Germany.
  • On the supervisory boards, the proportion of women is still just below the 40 per cent mark at 38.5 per cent.
  • Six supervisory boards at Hannover Re, Zalando, Commerzbank, Covestro, Heidelberg Materials and Vonovia have at least equal representation of women and men.
  • Substantial progress requires concrete strategies for sustainably increasing the proportion of women at all management levels.

Thomas Porter Appointed Chief Underwriting Officer for Somerset Reinsurance

Retrieved on: 
Thursday, February 1, 2024
Personal Finance, Finance, Consulting, Professional Services, Insurance, Acquisition, Reinsurance, Lead, Hannover Re, Pleasure

Somerset Reinsurance Ltd. ("Somerset"), a leading provider of reinsurance solutions to the U.S. life insurance and annuity market, announced today the appointment of Thomas Porter as Chief Underwriting Officer.

Key Points: 
  • Somerset Reinsurance Ltd. ("Somerset"), a leading provider of reinsurance solutions to the U.S. life insurance and annuity market, announced today the appointment of Thomas Porter as Chief Underwriting Officer.
  • Mr. Porter will be based in Bermuda, reporting to Jeff Burt, Chairman and Chief Executive Officer of Somerset, and responsible for overseeing the firm’s underwriting and pricing activities with respect to all new reinsurance business acquisition activities and retrocessions.
  • Mr. Porter joins Somerset from Hannover Re where he was Head of Financial Reporting & Valuation at Hannover Re in Orlando, Florida since 2020.
  • “Building on our approach of being a liability-driven organization, we are delighted to add Thomas’ deep reinsurance experience as the lead of our Underwriting team,” said Mr. Burt.

AM Best Affirms Credit Ratings of Hannover Rück SE and Its Main Subsidiaries

Retrieved on: 
Thursday, December 21, 2023
Insurance, Professional Services, Geography, Credit, ROE, AM Best, Hannover Re, FSR, Superior, Risk management

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Hannover Rück SE (Hannover Re) (Germany) and its main subsidiaries.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Hannover Rück SE (Hannover Re) (Germany) and its main subsidiaries.
  • AM Best also has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of a debt instrument issued by Hannover Re.
  • The outlook of these Credit Ratings (ratings) is stable.
  • The FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) have been affirmed with stable outlooks for Hannover Rück SE and the following subsidiaries:

EQS-News: Hannover Re expects Group net income of at least EUR 2.1 billion for 2024 and sets out financial ambition for 2024-2026 strategy cycle

Retrieved on: 
Thursday, December 14, 2023
Climate change, Risk assessment, S&P Global Ratings, EUR, Acceleration, Life, Hannover Re, Growth, Insurance, Property, EBIT, Policy, Automation, Reinsurance

For the 2024 financial year Hannover Re anticipates Group net income of at least EUR 2.1 billion and hence an increase of 24% compared to the earnings guidance for 2023.

Key Points: 
  • For the 2024 financial year Hannover Re anticipates Group net income of at least EUR 2.1 billion and hence an increase of 24% compared to the earnings guidance for 2023.
  • Hannover Re anticipates a combined ratio below 89% in the Property & Casualty reinsurance business group in 2024 owing to the improved market environment.
  • In the Life & Health reinsurance business group Hannover Re expects a reinsurance service result of more than EUR 850 million.
  • Established in 1966, the Hannover Re Group today has a network of more than 170 subsidiaries, branches and representative offices worldwide.

EQS-News: E+S Rück expects further improvements in prices and conditions for property and casualty reinsurance in Germany due to sustained high inflation and claims expenditure

Retrieved on: 
Thursday, October 26, 2023
Insurance, Hannover Re, Weather, AG, Life, S&P Global Ratings, Pressure, Partnership, PFAS, Natural disaster, Climate change, Security (finance), Reinsurance

Natural disasters and persistently high inflation have again taken a toll on the German insurance industry in the current year.

Key Points: 
  • Natural disasters and persistently high inflation have again taken a toll on the German insurance industry in the current year.
  • At the same time, E+S Rück expects motor insurance in Germany – the largest line of property and casualty insurance by volume – to close heavily in the red this year.
  • Furthermore, persistently high inflation is pushing up claims expenditures in property insurance, leading to pressure for further adjustments.
  • It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 3,500 staff.