Hannover Re
German reinsurer founded in 1966, a roughly 50% subsidiary of the insurer Talanx: one of the world's top three, a specialist in non-life, life and health reinsurance, strongly present in long-tail treaties and life reinsurance.
Hannover Re is founded in 1966 under the name Hannover Rückversicherungs-AG, backed by the industrial insurer HDI, which has since become the Talanx group, holding about half its capital. Its headquarters are in Hanover. It is listed on the Frankfurt stock exchange. It counts today among the three largest reinsurers in the world by premiums, with Munich Re and Swiss Re. Its profile is known to cedants: mostly treaty non-life reinsurance, with an important presence in liability and specialty lines, and a life and health reinsurance portfolio that represents a significant share. It is one of the most active reinsurers in Germany, Asia, the Middle East and the Americas, and it takes part in risk transfer transactions with capital markets, notably longevity. On a program, a Hannover Re lead signals to followers an appetite for a long-tail treaty, of which it often accepts large shares.
Textbook case. A liability cedant places a EUR 30M excess of EUR 10M treaty. Hannover Re takes 25% of the line on the strength of its long-tail capacity, or EUR 7.5M of limit and a premium at 11% rate on line, EUR 0.825M. Over five years of occurrence, the reinsurer reserves claims as they develop, which requires capital for the years of late settlement.
Hannover Re, Hannover Re SE, Hannover Reinsurance, Talanx Hannover Re, Hannover Re group
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