Strategy
Strategic orientation
- In the non-life reinsurance business group Hannover Re operates flexibly, but in accordance with strict profit criteria. During soft market phases premium volume and market share are reduced; the opposite applies during a hard market.
- We consider ourselves to be an undogmatic and innovative market player that is amongst the best in any given market.
- In particularly profitable markets we strive for an above-average market share. It is becoming increasingly important to assume the lead position in reinsurance programmes.
Diversification: Three solid pillars
- The business group non-life reinsurance comprises the following main lines and areas of business: Target markets (North America, Germany), Specialty lines (marine business including energy, aviation, credit, surety and political risks, structured reinsurance, insurance-linked securities, London market and direct business) and Global Reinsurance (treaty, catastrophe and facultative business)
- We strive for consistent positioning in those segments that deliver results above the average return on equity on a sustained basis.
Quantitative targets
- Double-digit growth in the operating profit (EBIT); EBIT margin of at least 10% relative to net premium earned.
- Combined ratio of under 100% with a normalised catastrophe loss burden of 10%.