Hannover Re strengthens its presence in China
(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 strengthens its presence in ChinaHannover, 13 October 2009: Hannover Re has received approval to opena branch in Shanghai for non-life reinsurance. Since May 2008 it hashad a branch there writing Chinese life/health reinsurance business.Going forward, both business groups will now be transacted directlyfrom Shanghai. At the beginning of October the China InsuranceRegulatory Commission (CIRC) issued the company an appropriatelicence."This stronger presence will enable our clients to access allservices from a concentrated source", Chief Executive Officer UlrichWallin explained. "At the same time it gives us an optimal platformfor further extending our position in China." China is one of Asia'slargest insurance markets, and Hannover Re expects to grow itspremium volume here in the years ahead.The General Manager of both branches is Michael Huang, who has beenwith the company for a number of years in Shanghai. He haslong-standing experience in the insurance industry and a superbknowledge of the Chinese market. The business written to date byHannover Re in China encompasses obligatory and facultative non-lifereinsurance across all lines as well as life reinsurance.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:Daniela Gissinger (tel. +49 511 5604-1529,e-mail: daniela.gissinger(at)hannover-re.com)Please visit: www.hannover-re.comHannover Re, with a gross premium of around EUR 9 billion, 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 beforward-looking statements or statements of future expectations basedon currently available information. Such statements are naturallysubject to risks and uncertainties. Factors such as the developmentof general economic conditions, future market conditions, unusualcatastrophic loss events, changes in the capital markets and othercircumstances may cause the actual events or results to be materiallydifferent from those anticipated by such statements. Hannover Re doesnot make any representation or warranty, express or implied, as tothe accuracy, 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: 13.10.2009 - 08:57 Uhr
Sprache: Deutsch
News-ID 6839
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