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International

Turkey quake, New Zealand floods hit Hannover Re’s cat loss budget

March 13, 2023 Reprints

Sven Althoff, executive board member, property and casualty, Hannover Re SE, said that the reinsurer is likely to exhaust a large portion of its catastrophe loss budget for the first-quarter after Turkey quake and New Zealand flood losses, Artemis reported. Mr. Althoff expects a net loss in the range of €200 million for the reinsurer, in the first quarter.

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Turkey quake, New Zealand floods hit Hannover Re’s cat loss budget

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