HANNOVER, Germany, June 15, 2001 (PRIMEZONE) -- Hannover Re (GER:HNR) has joined "inreon", an independent, internet-based exchange for standardized reinsurance products.
The platform enables insurers and brokers to place risks online with various reinsurance companies. Hannover Re will sell reinsurance capacity via the inreon virtual marketplace and will underwrite the full range of facultative risks traded.
E-commerce will become more important for reinsurers in the near future, explained Wilhelm Zeller, Chairman of the Executive Board. Through inreon our clients can now access our capacity and products using an efficient and fully secure channel. Our participation in the inreon network represents another step forward in Hannover Re's comprehensive e-commerce strategy.
Hannover Re, with gross premiums of EUR 8.3 billion, is the fifth-largest reinsurance group in the world. It transacts all lines of property/casualty, life/health and financial/finite-risk reinsurance as well as program business. It maintains business relations with more than 2,000 insurance companies in over 100 countries. Its world-wide network consists of more than 100 subsidiaries, branch and representative offices in 20 countries. The American rating agencies Standard & Poor's and A.M. Best have awarded Hannover Re their second-highest rating of AA+ ("Very Strong") and A+ ("Superior"), respectively.