Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit
- New organisational structure to boost further development and scaling of profitable business opportunities in cyber and digital
- New business unit to be established effective 1 April 2024
- Stefan Sperlich to lead the new business unit
Hannover, 26 March 2024: Hannover Re will combine its global business in the areas of cyber and digital to further strengthen its underwriting expertise by creating a new specialty reinsurance business unit.
Effective 1 April 2024, the new business unit will further enhance Hannover Re’s position as a trusted business partner for insurtechs and clients seeking coverage for cyber risks both in treaty and facultative reinsurance. Especially reinsurance coverage of cyber business benefits from a centralised approach on a portfolio-level with regards to diversification, accumulation and cycle management. The move will also allow Hannover Re to expand its data and analytics capabilities and scale its cyber retrocession capacities.
“The creation of a dedicated cyber and digital business unit allows us to create consistency and the best possible capacity for our clients and business partners,” said Silke Sehm, member of Hannover Re's Executive Board. “For insurtechs and many clients seeking cyber risk protection, we are already the trusted reinsurance partner. At the same time, Hannover Re’s underwriting approach with a focus on profitability and long-term partnership will provide us with balanced and profitable growth in this area.”
Stefan Sperlich will head the new cyber and digital business unit as Managing Director. He studied Mathematics and joined Hannover Re in 2009 as a structured reinsurance underwriter with different regional responsibilities over the past 15 years. Since 2019, he has been leading the North American structured reinsurance business. In addition, he formed and headed Hannover Re’s digital business accelerator for property and casualty business. Stefan Sperlich will report to Silke Sehm, responsible member at Hannover Re’s Executive Board.
The new unit will be located in Hannover and consists of Hannover Re’s highly experienced underwriters and experts in cyber and digital risks. The team will closely cooperate with the global market units and local offices to support business generation and client management.
Hannover Re is one of the world’s leading reinsurers. It transacts all lines of property & casualty and life & health reinsurance and is present worldwide with around 3,900 staff. German business of the Hannover Re Group is written by the subsidiary E+S Rück. Established in 1966, Hannover Re is recognised as a reliable partner for innovative risk solutions, exceptional customer intimacy and financial soundness. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".
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