Hannover, 6 September 2012:
Hannover Re was the recipient of a highly prized award yesterday evening in London: "Insurance Day", the prestigious UK daily for the global insurance industry, named Hannover Re "Reinsurance Company of the Year" at its annual awards ceremony.
"We are delighted to receive this distinction, which reflects the jury's appreciation of our successful business model. Going forward, thanks to the healthy diversification of our book of business and our sophisticated risk management, it remains our expectation that we can live up to the requirements of both our clients and our investors", Chief Executive Officer Ulrich Wallin affirmed.
In a difficult 2011 financial year overshadowed by a challenging capital market environment and exceptionally heavy losses from natural disasters, Hannover Re had generated a highly gratifying result. Of all professional reinsurers, the company achieved the lowest percentage of catastrophe losses relative to net premiums earned at just 14%.
The "Worldwide Reinsurance Awards" were presented this year for the nineteenth time. The jury consisted of noted personalities from the (re)insurance industry.