Company FAQ
4. Life and Health Reinsurance: Where does Hannover Re enjoy a competitive edge?
We are one of the market leaders in the area of financing transactions and a highly sought-after product partner
Under the term "life and health reinsurance", we subsume the life and health classes as well as those parts of our personal accident business written by foreign life insurers.
The five pillars of our business are
- Financial solutions
- Pioneering new markets, especially using product partnerships (senior citizens' market, ReTakaful market)
- Bancassurance
- Conventional risk transfer in selected markets and customer segments
- Preferred partner of major international insurance groups
Transactions with financing component
The most notable feature of Hannover Re's activities within life and health reinsurance is its special orientation towards sectors which comprise a financing component as a central integral element. We have in mind here, on the one hand, the financing of acquisition costs for new business in life and annuity assurance and, on the other hand, the assumption of entire in-force portfolios of life, health or personal accident insurance - so-called block assumption transactions. In recent years, we have evolved into a worldwide market leader in these fields.
Capacity via risk transfer into the capital markets
The Hannover Re Group's specialisation in financing products in the life and health reinsurance segment has met with a growing response in numerous markets. Our strategy is guided by the uniform, long-term vision of positioning ourselves as the leading reinsurer for financing transactions in all our selected target markets. In order to be able to meet the growing financial expenditures resulting from the increasing demand for financing products, in recent years we have developed instruments for securitising these expenditures on the capital markets. In this way, we ensure that our own financial prefinancing strains can be transferred almost without limit to the international capital markets, thereby keeping capacity available for further disproportionately strong growth.
Innovative product partner
In addition to offering these special financing concepts, the role of product partner for our clients constitutes a further key focus of our activities in the life and health reinsurance segment. In this function we concentrate on innovative concepts from the areas of unit-linked life assurance, immediate annuity products and coverage concepts for older client groups. Working in close cooperation with our clients, our goal is to tap into new business segments in the field of life, annuity and personal accident insurance.
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