Additional reinsurance capacity demand expected at January renewal: Hannover Re

Michael Pickel, a member of German reinsurer Hannover Re S.E.'s executive board, said that there is likely to be some incremental or additional demand for reinsurance capacity from European and German cedents at the January 2017 reinsurance renewal. In natural catastrophe-exposed lines of property business some regional European cedents in Germany suffered losses to portfolios due to heavy rainfall and storms. "This will probably prompt some customers to adjust their reinsurance requirements, thereby further boosting demand for capacity," Mr. Pickel said, Artemis.bm reports.

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