Hannover Re's business activities in China started over forty years ago in 1971 when we wrote the first reinsurance contract in the country. In 1997, a representative office in Shanghai was established and converted to a branch in 2008. Since that year we have been underwriting Life & Health business locally. One year later the Shanghai Branch received CIRC's approval to expand the L&H-license to a composite one. This enabled us to write also Property & Casualty reinsurance out of the branch from 2010 onwards.
At Hannover Re we claim to be 'somewhat different' and our Shanghai operation truly lives up to this. Our core values and strategies are:
- Strong commitment to the Chinese market through local presence
- Long term relationship with our business partners focussing on mutual benefit
- Outstanding quality of service to our business partners
- Fast turn over and speedy claims handling and claims payment
- Rapid response due to lean and efficient organization
The Shanghai office business activities have grown tremendously since the beginning of their operation. The reasons for our success are the experience, professionalism and dedication of our staff and the efficient coordination between local office and all Hannover Re underwriting and service units. This cooperation enables us to accommodate the client's needs in a fast and competent fashion.