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

Posted On: Mar. 13, 2023 9:54 AM CST

Hannover Re

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.