Our capital adequacy ratio remained between 220% and 230% at the end of March and thereby comfortably above our limit of 180% and our threshold of 200%. Such growth implies business opportunities: Hannover Re strengthens its local position in the APAC markets.Hannover Re - Fact Sheet (May 2020)2021-03-11|Analysts' ConferenceQuarterly Statement as at 31 March 2020Conference call on Quarterly Statement2020-11-04|Quarterly Statement as at 30 September 2020At Hannover Re, we support the measures taken by the public sector to reduce the number of COVID-19 infections and slow the spread of the virus. Hannover Re is one of the largest reinsurance groups in the world. We are keenly aware of our responsibility to our clients and we know that a reliable partnership is absolutely vital to our customers – especially in difficult times of crisis such as these.2021-03-11|Annual Results 2020 Press Conference2021-02-04|1 January Property & Casualty Treaty RenewalsSecure competitive advantages and meet customer needsResponsibility, Drive, We-spiritBeyond risk sharing - we team up to create opportunitiesDear Visitor, this website uses permanent cookies to ensure data privacy as well as to provide access to special content and technical functionalities. By submitting the form you are giving your consent to be emailed by us.Currently, only two deaths have been recorded outside of China, but the virus has spread to at least 29 countries, including the US, the UK, France, Australia, Japan, Canada and South Korea, sparking fears of a global crisis.For perspective, he noted that the normal influenza virus could still be considered far more dangerous, with the ECDC estimating that 40,000 people die due to influenza every year in the European Union area alone.The vast majority of cases are in China, particularly in the city of Wuhan where the virus is thought to have originated, with 493 people now believed to have been killed.Henchoz suggested that the coronavirus would have to develop into a far more deadly outbreak than SARS in order to really affect the Hannover Re’s mortality business.“We would not dare to have a guess on how this situation will develop,” Althoff remarked “All we can comment on is what we know today, and from that we have no concerns that this will be a very significant loss on the P&C side.”Henchoz acknowledged that the company could potentially see increased excess mortality losses due to the virus outbreak, but noted that it would first have to develop into a much larger, extreme pandemic scenario.Reinsurance giant Hannover Re expects to generate net income of around €1.28 billion in 2019 and grew its premium volume...Sven Althoff, Member of the Executive Board at Hannover Re, further commented that on the property and casualty side, coverage for non-damage business interruption resulting from infectious disease is mostly excluded, including for aviation and property business.“We are not aware of any coronavirus related claims, but we still need a bit of time until we have the full picture,” he explained.
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