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Hannover, Germany, Apr 2, 2008 - (ABN Newswire) - Hannover, 2 April 2008: In a survey conducted on the occasion of the 12th All-Russia Reinsurance Conference at the end of March 2008 in Moscow Hannover Re was chosen as the best foreign reinsurer. Insurers and brokers from Russia and the CIS states took part in the vote, along with foreign brokerage houses.
"Bearing in mind that we write our reinsurance business from Hannover, in other words without maintaining a representative office in Russia, this vote of confidence from our clients is especially gratifying", Chief Executive Officer Wilhelm Zeller explained. Hannover Re likely garnered plus points for its undogmatic and quick decisions as well as for its client-oriented products. Russia and the CIS states offer a particularly large growth potential for (re)insurance business; the market is, however, fiercely competitive. In past years Hannover Re has nevertheless been successful in consistently writing profitable business. For the current 2008 financial year, too, the company anticipates adequate margins. Hannover Re ranks among the top 3 reinsurers in Russia and the CIS states and is well positioned with a market share of around 10%.
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)
Hannover Re, with a gross premium of around 8 billion euro, is one of the leading reinsurance groups in the world. It transacts all lines of non-life and life and health reinsurance. It 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 in around 20 countries with a total staff of roughly 1,800. 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").
Disclaimer: Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Hannover Re does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Hannover Re and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
