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German Equity Markets (Web Disclosure) via PUBT

Conference Call on 1 January 2022 P&C Treaty Renewals

3 February 2022

Jean-Jacques Henchoz, Chief Executive Officer

Sven Althoff, Member of the Executive Board - Property & Casualty

Important note (1)

Unless otherwise stated, the renewals part of the presentation is based on Underwriting-Year (U/Y) figures
This basis is only remotely comparable with Financial-Year (FY) figures, which are the basis of quarterly and annual accounts
The situation shown in this presentation mainly reflects the developments in Hannover Re's Property & Casualty reinsurance portfolio, which may not be indicative of the market development
Pricing includes changes in risk-adjusted exposure, claims inflation and interest rates, based on internal pricing models
Portfolio developments are measured at constant foreign exchange rates as at 31 December 2021

2 Conference Call on 1 January 2022 P&C Treaty Renewals

Important note (2)

Time lag in premium distribution between underwriting year and financial year

Underwriting years

								Financial years

			2021		2022			2023	2024	2025
		2020



													10%
2023										50%		40%





												10%
2022							50%			40%






											10%
2021					50%		40%





2020	50%			40%		10%

2022 underwriting year results will contribute to FY 2022 results and following years

3 Conference Call on 1 January 2022 P&C Treaty Renewals

1 Reinsurance markets

Fifth consecutive year of improving reinsurance markets

1 January 2022 renewal: key market highlights

Continued positive pricing momentum in a disciplined market
- Main drivers for price increases: interest rate environment, loss experience and inflation
- Terms and conditions stable to slightly improved
- Pricing effects vary noticeably by region and line of business
Sufficient reinsurance capital available despite tighter capacity in retro markets
Overall stable to slightly increased demand for well-capitalised reinsurance groups (flight to quality)

Positive trend in reinsurance pricing cycle continues

5 Conference Call on 1 January 2022 P&C Treaty Renewals

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Hannover Rück SE published this content on 03 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2022 06:32:29 UTC.