Hannover Re’s P&C unit logs third quarter loss

Germany-based reinsurer Hannover Re SE’s property/casualty reinsurance unit reported an underwriting loss in the third quarter due claims associated with natural catastrophes and the COVID-19 pandemic, Artemis reported. In the nine-month period, the reinsurer saw 14.5% year-on-year growth in P&C reinsurance premiums to €13.3 billion ($15.48 billion) with net loss expenditure of €1.1 billion, comprising €700 million in total P&C pandemic loss.

Read more.