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Hannover Rueck SE
Regulatory Filings • Jul 21, 2017
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Corporate | 21 July 2017 10:30
Hannover Rück SE: Hannover Re completes acquisition of Lloyd’s syndicate
DGAP-News: Hannover Rück SE / Key word(s): Takeover
21.07.2017 / 10:30
The issuer is solely responsible for the content of this announcement.
Press Release
Hannover Re completes acquisition of Lloyd’s syndicate
Hannover, 21 July 2017: The acquisition of the UK holding company Argenta Holdings Limited, which owns the companies Argenta Syndicate Management and Argenta Private Capital as well as a pro rata share of the Lloyd’s syndicate Argenta Syndicate 2121, was successfully completed yesterday. Hannover Re had announced an agreement to acquire Argenta Holdings back in March.
The acquisition is effective 20 July 2017.
By making this acquisition Hannover Re has gained additional access to international and London Market business while at the same time supporting Argenta in its future growth strategy. Syndicate 2121 booked gross written premium of GBP 280 million for the 2016 financial year.
Hannover Re, with gross premium of EUR 16.4 billion, is the third-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 2,900 staff. Established in 1966, the Hannover Re Group today has a network of more than 100 subsidiaries, branches and representative offices worldwide. The Group’s German business is written by the subsidiary E+S Rück. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück very strong insurer financial strength ratings: Standard & Poor’s AA- “Very Strong” and A.M. Best A+ “Superior”.
Please note the disclaimer:
https://www.hannover-re.com/535917
Contact
Media Relations:
Gabriele Handrick
tel. +49 511 5604-1502
Investor Relations:
Julia Hartmann
tel. +49 511 5604-1529
21.07.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: | Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxemburg |
| End of News | DGAP News Service |