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Ad hoc announcement pursuant to Section 15 of the Securities Trading Act (WpHG)
Securitisation transaction

With today's completion of its "K3" transaction, Hannover Re has again utilized the capital markets for the securitization of catastrophe and other large-scale risks. This transaction provides Hannover Re with an equity substitute in the amount of USD 230 million. "K3" is a structured financing involving a so-called portfolio-linked securitization, comprising a variety of non-proportional reinsurance covers for natural perils (hurricanes and earthquakes in the U.S., wind-storms in Europe and earthquakes in Japan) and worldwide aviation business. Further information is to be found in a press release issued today by Hannover Re.