DGAP-News: Hannover Re enables capital market to participate in insurance risks
(firmenpresse) - DGAP-News: Hannover Rückversicherung AG / Key word(s): Miscellaneous
Hannover Re enables capital market to participate in insurance risks
26.01.2012 / 10:30
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Hannover Re enables capital market to participate in insurance risks
Hannover, 26 January 2012: Hannover Re has again enabled the capital market
to participate in (natural) catastrophe risks. The proportional
retrocession programme referred to as the
'K Cession' was increased by around USD 20 million to USD 350 million. The
placement passed off extremely successfully for Hannover Re inasmuch as
expiring shares were more than offset by stronger demand - among not only
existing but also new investors. Investors made the most of the increased
rates for catastrophe risks in the latest renewal season.
'This transaction serves to complement our traditional retrocession
programme which we use to protect against peak exposures such as natural
disasters', Chief Executive Officer Ulrich Wallin explained. 'Given a
normal experience of the covered portfolio, our investors profit from
extremely attractive returns. Not only that, they are able to diversify
their own portfolio and exclude the interest rate risks normally associated
with other capital market products.'
The transaction was placed with institutional investors worldwide and is
fully collateralised. The cession rate is roughly 37% and applies to a
portfolio comprised of non-proportional reinsurance treaties from the six
main zones for natural catastrophe risks as well as the aviation and marine
(including offshore energy) lines.
Hannover Re first enabled investors to participate in insurance risks as
long ago as 1995 - the transaction was previously designated 'K6'.
For further information please contact:
Corporate Communications:
Karl Steinle (tel. +49 511 5604-1500,
e-mail: karl.steinle(at)hannover-re.com)
Media Relations:
Gabriele Handrick (tel. +49 511 5604-1502,
e-mail: gabriele.handrick(at)hannover-re.com)
Investor Relations:
Klaus Paesler (tel. +49 511 5604-1736,
e-mail: klaus.paesler(at)hannover-re.com)
Please visit: www.hannover-re.com
Hannover Re, with a gross premium of around EUR 11 billion, is the
third-largest reinsurer in the world. It transacts all lines of non-life
and life and health reinsurance and is present on all continents with
around 2,200 staff. The rating agencies most relevant to the insurance
industry have awarded Hannover Re very strong insurer financial strength
ratings (Standard&Poor's AA- 'Very Strong' and A.M. Best A 'Excellent').
Please note the disclaimer:
www.hannover-re.com/misc/disclaimer-pr-050811
End of Corporate News
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26.01.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Hannover Rückversicherung AG
Karl-Wiechert-Allee 50
30625 Hannover
Germany
Phone: +49-(0)511-5604-1500
Fax: +49-(0)511-5604-1648
E-mail: info(at)hannover-re.com
Internet: www.hannover-re.com
ISIN: DE0008402215
WKN: 840 221
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hannover;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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154021 26.01.2012
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Datum: 26.01.2012 - 10:30 Uhr
Sprache: Deutsch
News-ID 107950
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Kategorie:
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