The Marine Department is responsible for all lines of marine business and offshore energy treaty business. We offer reinsurance solutions for marine business on a facultative and treaty basis. In the offshore energy sector we only write treaty business - facultative offshore energy business is written by Hannover Re's Worldwide Facultative Division.
On the treaty side we target and are prepared to lead proportional and non-proportional reinsurance structures. We normally prefer to reinsure on a non-proportional basis. Although we are willing to write at all levels of a non-proportional programme, we generally favour higher capacity layers.
We can offer significant capacity for key exposures such as windstorms in the Gulf of Mexico, but we prefer to write this business in the context of an overall relationship with a client rather than as a stand-alone product.
On the proportional side we only target business with an above-average profit potential based on the client's special knowledge and/or leadership position within a line of business or due to the client's unique access to the ceded business thanks to its regional position.
We are prepared to look at all classes of marine and offshore energy reinsurance. This encompasses but is not limited to cargo, energy liability, fine art, hull, marine liability, protection and indemnity, specie and war. The underwriting of treaty and facultative business is concentrated in Hannover, Germany. With our subsidiary, the International Insurance Company of Hannover (Inter Hannover), we have additional facultative capabilities in Stockholm within our Group.
Our goal is to offer our clients - insurance companies as well as brokers - solutions that are perfectly tailored to their needs and specifications. We try to offer service levels in all aspects of our business that are recognised as best practice.