Hannover Rueck SE Property & Casualty Treaty Renewals Corporate Call Transcript
Thank you very much, and good morning, everyone. Welcome to this conference call which will focus on the 1/1 renewal on the P&C side. As usual, I'll start with a few comments and Sven Althoff will make a deep dive on the key figures for the different markets and lines of business. I'll then comment on the outlook for the year as usual.
Well, first, let me mention the devastating earthquakes in Turkey and Syria. We're all watching the news with shock and sadness and our deepest sympathy goes to all the people affected by this catastrophic event. We hope that the rescue efforts will be prompt and effective.
Let me now move to the overall market conditions. As you know, we're looking back at a year 2022, which was quite challenging for the industry, reinsurers and insurers. Insured losses from natural catastrophes were quite elevated, as you know, and clearly about expectations. Additionally, we had the war in Ukraine, which increased uncertainty in the markets, drove up energy prices,
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