Hannover Re Establishes Life Reinsurer in Bermuda
Hannover, Germany - Hannover Re has established a new subsidiary in Bermuda which will transact life reinsurance business. "Hannover Life Reassurance Bermuda Ltd. is to assume an important position within the life and health reinsurance business group while at the same time decisively strengthening our global network", Wilhelm Zeller, Chief Executive Officer of Hannover Re, explained.
The new company's focus will be on the life, health, annuity and personal accident lines as well as the writing of blocks of in-force life reinsurance business. In regional terms it will concentrate on the markets of the United Kingdom, Ireland, Canada, South Africa as well as on business from various Asian markets. Hannover Life Reassurance Bermuda Ltd. has an equity base of EUR 120 million and is also able to turn Hannover Re's considerable financial strength to its advantage.
Since 2000 the Hannover Re Group has transacted its worldwide life and health reinsurance business under the Hannover Life Re brand. This business group enjoys sustained double-digit growth potential thanks to systematic customer relationship management.
For further information please contact:
Press and Public Relations / Investor Relations: Stefan Schulz (tel. +49 / 511 / 56 04-15 00, e-mail: stefan.schulz@hannover-re.com)
Press and Public Relations: Gabriele Handrick (tel. +49 / 511 / 56 04-15 02 e-mail: gabriele.handrick@hannover-re.com)
Investor Relations:
Gabriele Bödeker (tel. +49 / 511 / 56 04-17 36, e-mail: gabriele.boedeker@hannover-re.com)
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