Hannover Re announced that Vincent Hermenier (pictured above) has been named its new managing director.
In his new role, Hermenier will be responsible for property and casualty insurance markets across a broad geographic footprint, including France, the Benelux, the Nordics, Central, Eastern and Southeastern Europe, Türkiye, Central Asia, the Caucasus, the Maghreb, West Africa, and Israel.
Hermenier has been with Hannover Re since 2004, beginning his tenure as a senior underwriter in property and casualty treaty reinsurance, focused on France and Francophone Sub-Saharan Africa. He was promoted to general manager in 2013 and has since overseen treaty operations in France, Benelux, Israel, Greece, Malta, and several African territories.
Before joining the company, Hermenier held technical and academic roles, including as a software developer at Intevation GmbH and as a researcher at the Laboratoire d'économie des transports. His academic background includes a master’s degree in applied mathematics from INSA Rouen Normandie and a year of study at the University of Sheffield under the Erasmus program.
Hermenier will succeed Sigrid Klass, who will retire from Hannover Re on June 30 after more than 35 years with the organization.
In addition to the leadership change, Hannover Re has expanded its capital markets activity with the upsizing of its latest catastrophe bond issuance. The 3264 Re Ltd. (Series 2025-2) bond now targets US$150 million in coverage for peak perils in the US and North America.
Hannover Re also recently reported a quarterly profit of €480 million, a 14% decrease year-over-year, primarily due to €631 million in claims related to the Los Angeles wildfires. Despite the impact, the result slightly exceeded analyst expectations. The company said that it continues to manage risk through diversified underwriting and capital strategies.
The company’s premium volume in Europe, Middle East, and Africa region grew by 9.7%, supported by stable demand across several markets. Hannover Re noted that while increased reinsurance capacity has introduced some rate pressure, overall market conditions remain supportive.
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