HVRRY News and Press, Hannover Rueckversicherung SE ADR From 02/11/21

IAG had already fully eroded its deductible for the calendar year catastrophe aggregate reinsurance protection it had in place for 2020 by the end of June. The A$90 million of recoveries came largely after the second-half of 2020 impacts of A$290 million of catastrophe losses. The...

Global insurance and reinsurance group Everest Re has pre-announced a range of charges being applied to its fourth-quarter and 2020 results, due to catastrophe losses, continued impacts from the COVID-19 pandemic and a $400 million reserve charge driven by social inflation trends in casua...

The fresh COVID-19 losses takes AXIS Capital’s total for the pandemic to $360 million reported so far. AXIS Capital had already recognised $235 million of pandemic losses in the first quarter of 2020. In total, AXIS expects a dent to fourth-quarter 2020 earnings of between ...

RenaissanceRe has pre-announced an expected $345 million of losses from natural catastrophes and COVID-19 suffered during the fourth quarter of 2020. As a result of these losses, RenaissanceRe says that when it announces its Q4 2020 results in the coming weeks, it expects to report ne...

2020 saw convective weather losses reach a record level in the United States, according to Munich Re's data, with $40 billion of economic losses experienced and around $30 billion of these were insured. In total, the convective storm peril therefore drove 45% of total U.S. insured nat...

With reinsurance rates and pricing having increased at the key January 2021 reinsurance renewals, there is now an expectation that future renewals this year should follow suit. While the January reinsurance renewal has a significant focus on EMEA, Latin America and some parts of Asia,...

Issues related to the potential for insurance-linked securities (ILS) collateral to be trapped, because of uncertainty over the COVID-19 pandemic and its potential losses for the insurance and reinsurance industry, have largely been postponed until after the January renewals. This had...

As expected, the January 2021 reinsurance renewals have proved to be less firm than forecast, but in general the trajectory of reinsurance and retrocession pricing has been positive and as a result return potential continues to rise for those allocated to insurance-linked investments. ...

The catastrophe bond and related ILS market saw a record number of transactions in 2020. This drove issuance of pure 144A property catastrophe bonds above $10 billion for the first time ever, and issuance of cat bonds and related ILS transactions has now surpassed $16 billion. It ...

Global reinsurance firm Swiss Re looks set to target profitable growth for its property and casualty reinsurance business. Swiss Re is targeting an improved combined ratio for its P&C reinsurance business of less than or equal to 96% for 2021. The focus will be on profitabilit...