Insurance Risk Manager of the Year
15 January 2008:
Hannover Re was named Risk Manager of the Year by "Risk" magazine. The decisive factor in arriving at this rating proved to be the first securitisation of credit risk from retrocession recoverables: In this so-called "Merlin" transaction, the risk transfer was accomplished through the use of collateralised debt obligation (CDO) technology.
"For us, it's a risk management and a capital management tool, and we use it finally to enhance our return on equity and reduce the volatility of our overall book", says Ulrich Wallin, member of the Executive Board and responsible for Hannover Re's capital market transactions.
Hannover Re has so far transacted a number of capital market securitisations (so-called "K" and "L" transactions), which enable investors to participate in reinsurance risks emanating from non-life and life and health reinsurance.
|
