Hannover Re expects 2018 rating correction

The combined natural catastrophe losses seen in 2017 should
trigger a rating correction for reinsurers in 2018, Hannover Re has
claimed.
At the company's investor day, CEO Ulrich Wallin said he
believed the total nat cat industry loss for 2017 would lead to
reinsurers reporting a return on equity (RoE) of less than 5
percent in the mid-term, which would lead to rate increases.
He added that his firm was already seeing a much firmer market
in facultative reinsurance and...