![\"sven-althoff-hannover-re\"](\"http:\/\/www.calebdewey.com\/wp-content\/uploads\/2025\/05\/sven-althoff-hannover-re.jpg\")
Speaking during the firm\u2019s Q1 earnings call, Althoff stated, “The pricing we observed on April 1 was very much in line with what we saw on January 1.<\/p>\nSven Althoff, Executive Board Member for Property & Casualty at Hannover Re, has indicated that the upcoming mid-year renewals are expected to mirror the outcomes seen on January 1 and April 1, particularly with continued softening in property pricing.<\/p>\n
Speaking during the firm\u2019s Q1 earnings call, Althoff stated, “The pricing we observed on April 1 was very much in line with what we saw on January 1.<\/p>\n
“This suggests that for the mid-year renewals, we can expect a relatively similar outcome in terms of retained earnings. There is a particularly strong supply in property capacity, so we anticipate that property pricing will continue to soften at the mid-year renewals.<\/p>\n
“In the U.S., wildfires will likely be factored into the equation and may have a slight dampening effect. However, this is not expected to alter the overall trend for other lines of business.<\/p>\n
“We expect renewals to be more stable outside of property catastrophe, consistent with what we observed at both January 1 and April 1. There is no reason to believe that mid-year renewals will deviate from this pattern.”<\/p>\n
Hannover Re reported a group net income of \u20ac480 million for Q1 2025, marking a 13.9% year-on-year decline<\/a>.<\/p>\n The drop was primarily attributed to large losses in property and casualty reinsurance, which totaled \u20ac765 million, significantly above the budgeted \u20ac435 million.<\/p>\n Commenting further on pricing developments, particularly the downward trends seen in the April 1 renewals, Althoff explained, “The loss component we’ve shown remains at a rather marginal level, which indicates that, despite some softening, most of the business we’re writing continues to exceed our capital hurdle rate. From that perspective, we’re still comfortable growing in the current pricing environment.<\/p>\n “Of course, it’s far too early to predict what the pricing landscape will look like for the January 1 renewals. Volatility in the capital markets, as well as the impact of major losses from both natural catastrophes and man-made events, will be key factors.<\/p>\n “If market conditions remain broadly similar to where they are today, there would be no immediate reason for us to stop writing business, and we may continue to grow. However, if rate reductions become more significant, that dynamic could change. For now, though, most of the business we’re writing is at a healthy level of profitability.”<\/p>\n Addressing Hannover Re\u2019s strategy in the aggregate-covered market, Althoff added, “On the property cat side, we certainly have a preference for writing event towers. That said, we are also prepared to write some aggregate covers, though they represent a smaller portion of our portfolio.<\/p>\n “Ideally, we prefer to write at higher return periods from a retention standpoint. We’ve also observed that there is increased capacity available in the market for these types of covers. As I mentioned, we are not a major player in aggregate covers, but we do consider them from time to time within the context of broader client relationships.”<\/p>\n The post Mid-year renewals to mirror January & April trends as property pricing softens: Hannover Re\u2019s Althoff<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Sven Althoff, Executive Board Member for Property & Casualty at Hannover Re, has indicated that the upcoming mid-year renewals are expected to mirror the outcomes seen on January 1 and April 1, particularly with continued softening in property pricing. Speaking during the firm\u2019s Q1 earnings call, Althoff stated, “The pricing we observed on April 1 […]<\/p>\n","protected":false},"author":1,"featured_media":4195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4193"}],"collection":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/comments?post=4193"}],"version-history":[{"count":3,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4193\/revisions"}],"predecessor-version":[{"id":4197,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4193\/revisions\/4197"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/media\/4195"}],"wp:attachment":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/media?parent=4193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/categories?post=4193"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/tags?post=4193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Download](\"http:\/\/www.calebdewey.com\/wp-content\/uploads\/2025\/05\/catastrophe-bond-ils-market-report-q1-2025-728x90-2.png\")
<\/a><\/p>\n<\/div>\n<\/div>\n