To further explore the potential use of distributed ledger technology for the insurance industry, Hannover Re joined the Blockchain Insurance Industrie Initiative in 2017. B3i was launched in October 2016 as an insurance industry consortium, which then formed B3i Services AG in 2018 as an indepentend company. Until today the initiative has gained broad attention across the industry and beyond, while achieving a truly global scope with additional members joining from Asia, Europe and the Americas.
B3i Services AG is 100% owned by 19 insurance market participants. The current shareholders of B3i are Achmea, Aegon, Ageas, Allianz, AXA, China Pacific Insurance Company, Deutsche Rück, Generali, Hannover Re, IRB Brasil Re, Liberty Mutual, Mapfre Re, Munich Re, SBI Group, SCOR, Swiss Re, Tokio Marine Holdings, VIG Re and Zurich Insurance Group.