Earnings Release • Jul 2, 2014
Earnings Release
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Corporate | 2 July 2014 15:30
Hannover Re transfers US named storm risks to the capital markets
Hannover Rück SE / Key word(s): Miscellaneous
02.07.2014 / 15:30
Hannover Re transfers US named storm risks to the capital markets
Hannover, 2 July 2014: Hannover Re has completed a new transaction as part of its extended insurance-linked securities (ILS) activities. The company has transferred named storm risks for the Texas Windstorm Insurance Association (TWIA) to the capital markets. The assumed risks are limited to the state of Texas.
The amount of capital made available by institutional investors is USD 400 million. GC Securities, a division of MMC Securities Corp., was responsible for structuring and placing of this catastrophe bond, which matures in approximately three years.
“With this transaction Hannover Re has underscored its long-standing expertise in the field of alternative risk transfer and leveraged the opportunity to generate low-risk and stable margins”, Chief Executive Officer Ulrich Wallin noted.
Since the placement of the world’s first risk securitisation by Hannover Re in 1994 the company has realised numerous innovative transactions in both non-life and life/health reinsurance.
For further information please contact:
Corporate Communications:
Karl Steinle (tel. +49 511 5604-1500,
e-mail: [email protected])
Media Relations:
Gabriele Handrick (tel. +49 511 5604-1502,
e-mail: [email protected])
Investor Relations:
Axel Bock (tel. +49 511 5604-1736,
e-mail: [email protected])
Please visit: www.hannover-re.com
Hannover Re , with a gross premium of EUR 14.0 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 2,400 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
02.07.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
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| 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 |
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| 276269 02.07.2014 |
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