Somewhat different
Hannover Re – the somewhat different reinsurer
Non-life reinsurance
In the traditional non-life reinsurance business the primary distribution channel through brokers enables Hannover Re to pursue flexible cycle management – growth in the hard market, and withdrawal from unprofitable business in the soft market. The centralised underwriting policy safeguards a very high level of underwriting discipline and facilitates rapid decision-making processes on the basis of a lean, efficient infrastructure.
Hannover Re's non-life portfolio is well diversified:
- Target markets
- Specialty lines
- Marine business (including energy)
- Aviation business
- Credit, surety and political risks
- Structured reinsurance, insurance-linked securities
- United Kingdom, London market
- Global Reinsurance
- Treaty business (non-catastrophe)
- Catastrophe business
- Facultative business
Life and health reinsurance
Around 80% of the total business derives from just five core markets. A mere 50 key accounts produce about 80% of the worldwide portfolio. Target clients are small and mid-sized insurers that concentrate on clearly defined market segments and product niches. A sophisticated approach to customer care (Client Relationship Management, CRM) harmonises Hannover Re's interests with those of its clients. Strategic aim is to establish Hannover Life Re as one of the three major internationally operating life and health reinsurers with a track record of above-average profitability.
In life and health reinsurance, the focus is on five areas of business:
- Financial solutions (Financing reinsurance, Block Assumption Transactions)
- New markets (Senior citizens)
- Bancassurance
- Multinationals
- Conventional reinsurance
Capital base and investments
Our capital base is determined by the results of our risk modelling (economic capital) as well as the requirements of supervisory authorities (solvency capital) and rating agencies (rating capital). Our risk management system is geared to protect the group's shareholders' equity. Priority is hereby given to risks relating to reserving, exposure, pricing and investment as well as to operational risks. Hannover Re enjoys a well diversified, stable and liquid asset portfolio. A short duration and the high quality of our bond portfolio protect us against interest rate rises in the present uncertain market environment.
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