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Hannover Re saw price increases of 8% at January renewals

Posted On: Feb. 9, 2023 9:50 AM CST

Hannover Re

German reinsurer Hannover Re SE logged inflation- and risk-adjusted price increases of 8% on renewed business during the January treaty renewals in traditional property and casualty reinsurance, Reinsurance News reported. The challenging market conditions at the renewals and the subsequent increase in demand among primary insurers for reinsurance coverage against a tighter overall supply led to significant increases in risk-adjusted prices and conditions for reinsurers.