In November 2026, Hannover Re reported group net income of about EUR 2.1 billion for the nine months ended September 30, up 6.9%. On November 9 it maintained its full-year group net income target of at least EUR 2.7 billion and its expectation of a net life and health reinsurance service result of about EUR 925 million. Both full-year figures are guidance.

Check the captive’s own exposure

For a captive, the choice of counterparty and the choice of retention are separate decisions. Test concentration, the timing of recoveries and the documentation needed to support a claim. Independent non-executive directors can challenge the affordability of the proposed retention under adverse conditions and ask management to explain its alternatives.

The results provide useful context for discussions with Hannover Re and other markets. The renewal decision should still turn on the specific treaty, the financial exposure left with the sponsor and the quality of the evidence behind the quote.

Sources

Hannover Re nine month results and guidance