Environmental & Social Information • May 16, 2013
Environmental & Social Information
Open in ViewerOpens in native device viewer
News Details
Corporate | 16 May 2013 11:00
Hannover Re assumes reinsurance of energy savings warranties in Germany
Hannover Rück SE / Key word(s): Miscellaneous
16.05.2013 / 11:00
Hannover Re assumes reinsurance of energy savings warranties in Germany
Hannover, 16 May 2013: Hannover Re, in cooperation with KlimaProtect, has for the first time developed an energy savings warranty insurance product for industrial enterprises in Germany. This insurance solution enables providers of energy efficiency solutions to guarantee the potential energy savings offered by their retrofit activities. In the event that the promised energy savings fail to materialise, the company concerned receives deficiency payments from the contractor which are backstopped by the insurance coverage. Hannover Re, for its part, reinsures these energy savings warranties covered by its primary insurance clients.
The idea for the product is based on a warranty insurance solution jointly developed by Hannover Re in the United States, which it has now adapted in cooperation with KlimaProtect to fit the needs of German businesses.
‘With this innovative insurance product we would like to create additional incentives to invest in energy-efficient measures and reduce energy consumption in Germany’, explained Ulrich Wallin, Chief Executive Officer of Hannover Re.
Target clients for such warranty insurance include, for example, firms that improve exterior insulation, install heating systems and combined heat and power units or optimise lighting equipment. Going forward, Hannover Re expects to see further vigorous growth in investments in energy efficiency measures on the European market.
For further information please contact:
Media Relations:
Gabriele Handrick (tel. +49 511 5604-1502,
e-mail: [email protected])
Investor Relations:
Julia Hartmann (tel. +49 511 5604-1529,
e-mail: [email protected])
Please visit: www.hannover-re.com
Hannover Re , with a gross premium of EUR 13.8 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 2,300 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+ ‘Superior’).
Please note the disclaimer:
www.hannover-re.com/misc/disclaimer-pr-050811
End of Corporate News
16.05.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | Hannover Rück SE |
| Karl-Wiechert-Allee 50 | |
| 30625 Hannover | |
| Germany | |
| Phone: | +49-(0)511-5604-1500 |
| Fax: | +49-(0)511-5604-1648 |
| E-mail: | [email protected] |
| Internet: | www.hannover-re.com |
| ISIN: | DE0008402215 |
| WKN: | 840 221 |
| Indices: | MDAX |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard), Hannover; Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Terminbörse EUREX |
| End of News | DGAP News-Service |
| - - - |
| 211079 16.05.2013 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.