The Hannover Re Group forms the core of the Talanx segment of Non-Life Reinsurance. Hannover Re, with gross premium of around EUR 11 billion, is the third-largest reinsurer in the world. It transacts all lines of non-life reinsurance and life/health reinsurance and maintains business relations with more than 5,000 insurance companies in about 150 countries. Its worldwide network consists of more than 100 subsidiaries, branch and representative offices on all five continents with a total staff of roughly 2,200. The Group's German business is transacted by the subsidiary E+S Rück.
In the typically cyclical markets and lines of non-life reinsurance Hannover Re does not pursue any targets in terms of volume, growth or market share, but instead operates opportunistically with a strict profit orientation. This necessitates the reduction not only of volume but also of market share in phases with soft rates and conditions – without regard to the expense ratio. The opposite applies when markets turn upwards. Based on its undogmatic, flexible and innovative business practices, Hannover Re sees itself as the preferred complement or alternative to the big three reinsurers, which are increasingly seeking to dominate markets.
The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück very strong insurer financial strength ratings (Standard & Poor's AA- "Very Strong"; A.M. Best A "Excellent").
External link to the Internet site of Hannover Re:
www.hannover-re.com
