Somewhat different
What do we do differently?
Non-Life reinsurance
In the traditional non-life reinsurance business our primary distribution channel through brokers enables us to pursue flexible cycle management and ensures a low administrative expense ratio. Our 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.
Lines of business of non-life reinsurance:
- USA
- Germany
- Marine (incl. Energy)
- Aviation
- Credit, surety and political risks
- Global facultative business
- Global non-proportional Cat. XL
- Structured products
- Others
Life and health reinsurance
The key to our success in life and health reinsurance is "focus".
We are not all things to all people, since we focus on five areas of business:
- Stochastic partnerships
- Bancassurance
- New markets
- Multinationals
- Traditional mortality risks
Around 95 percent of the total business derives from just 10 core markets. A mere 50 key accounts produce more than 85 percent of the worldwide portfolio. Three main products generate 75 percent of our total business. Our target clients are small and mid-sized insurers that concentrate on clearly defined market segments and product niches. Our sophisticated approach to customer care (Client Relationship Management, CRM) harmonises our interests with those of our clients. By the end of this decade we are seeking 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.
Investments
We are always one step ahead in this virtual business group with our tactical asset allocation. With the aid of dynamic financial analysis we determine an asset allocation that entails minimal risk over the long term. The heavily scaled-back equity allocation in early 2001 thus substantially limited our losses from stock dealings in the subsequent years 2002 and 2003. Nor do we make any so-called strategic investments. A short duration and the high quality of our bond portfolio protect us against interest rate rises in the present uncertain market environment. Hannover Re enjoys a well diversified, stable and liquid asset portfolio.
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