Daily Insurance Industry News
Daily Insurance Industry News
Monday 24th of September 2018
June 30, 2009

Hannover Re: No major losses from credit insurance

by David Masters

Story link: Hannover Re: No major losses from credit insurance

Hannover Re, one of the world’s largest reinsurers, has yet to suffer any big losses from credit insurance claims despite the rising number of insolvencies around the world.

Jan Mueller, managing director for global credit, surety, and political risk at Hannover Re, said he expects a slow recovery to the global economy rather than a rapid improvement.

The gradual recovery will ensure that demand for credit insurance and reinsurance remains high, Mueller said, and will increase the premiums that credit insurers can charge customers.

Mueller expects insurers and reinsurers to keep strict limits on the volume they provide in credit insurance, further improving prices and other conditions.

Hannover Re provides insurance to primary insurers, such as credit insurers, enabling a wider spread of risk.


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