Hannover Re executes innovative capital market transaction covering
facultative risks
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Hannover Re executes innovative capital market transaction coveringfacultative risksHannover, 1 September 2009: Hannover Re has for the first time placeda facultative risk portfolio as part of its extended Insurance-LinkedSecurities (ILS) activities. Worldwide individual risks of selectedclients are pooled and transferred as a programme to the capitalmarket. Hannover Re's interest here is not in protecting its ownportfolio, but rather in transferring the business of its clientsdirectly to the capital market."With this type of pooling and transformer role we enable cedants toaccess the capital market for risks that would not otherwise lendthemselves to this purpose on a stand-alone basis", Chief ExecutiveOfficer Ulrich Wallin explained. "We make reinsurance capacityavailable and give investors an opportunity to share in the currentlyprevailing attractive market conditions", Mr. Wallin added. Thecontracts mediated by the reinsurance intermediary Aon Benfield arewritten by Hannover Re and placed in the capital market inconjunction with Execution Limited.The Fac Pool Re transaction consists of a quota share cession and tworisk tranches. The total amount of capital provided stands at USD 60million, with Hannover Re keeping a share of approximately USD 5million and additionally assuming losses that exceed the capacity ofFac Pool Re. The term of the transaction is two and a half years.Fac Pool Re is the second transaction to be completed by theInsurance-Linked Securities unit, set up at the beginning of 2008. Inthis context Hannover Re cooperates with international reinsurancebrokers and partners.For further information please contact:Press and Public Relations / Investor Relations:Stefan Schulz (tel. +49 511 5604-1500,e-mail: stefan.schulz(at)hannover-re.com)Press and Public 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: HUwww.hannover-re.comUHannover Re, with a gross premium of around 9 billion euro, is one ofthe leading reinsurance groups in the world. It transacts all linesof non-life and life and health reinsurance. It maintains businessrelations with more than 5,000 insurance companies in about 150countries. Its worldwide network consists of more than 100subsidiaries, branch and representative offices on all fivecontinents with a total staff of roughly 2,000. The rating agenciesmost relevant to the insurance industry have awarded Hannover Re verystrong insurer financial strength ratings (Standard & Poor's AA-"Very Strong" and A.M. Best A "Excellent").Disclaimer:Some of the statements in this press release may be forward-lookingstatements or statements of future expectations based on currentlyavailable information. Such statements are naturally subject to risksand uncertainties. Factors such as the development of generaleconomic conditions, future market conditions, unusual catastrophicloss events, changes in the capital markets and other circumstancesmay cause the actual events or results to be materially differentfrom those anticipated by such statements. Hannover Re does not makeany representation or warranty, express or implied, as to theaccuracy, completeness or updated status of such statements.Therefore, in no case whatsoever will Hannover Re and its affiliatecompanies be liable to anyone for any decision made or action takenin conjunction with the information and/or statements in this pressrelease or for any related damages. --- End of Message ---Hannover RückKarl-Wiechert-Allee 50 Hannover GermanyWKN: 840221; ISIN: DE0008402215; Index: CDAX, CLASSIC All Share, HDAX, MDAX, MIDCAP, Prime All Share;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Stuttgart, Regulierter Markt in Niedersächsische Börse zu Hannover, Regulierter Markt in Frankfurter Wertpapierbörse;
Datum: 01.09.2009 - 09:01 Uhr
Sprache: Deutsch
News-ID 5316
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