Hannover, Germany-based Hannover Re released a buoyant report today saying Jan. 1 non-life reinsurance renewal volume was nearly 5 percent and it expects 17 premium volume for all lines in the year ahead.
Wilhelm Zeller, Hannover chief executive officer, said, “We can look back on a successful round of treaty renewals. The bottom has been reached and premium erosion halted.”
He explained, “The capital lost by insurers as a consequence of the financial market crisis has prompted the expected stronger demand for reinsurance.
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