DGAP-News: Hannover Rück SE / Key word(s): Miscellaneous
Hannover Re transfers US named storm risks to the capital markets
02.07.2014 / 15:30
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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: karl.steinle@hannover-re.com)
Media Relations:
Gabriele Handrick (tel. +49 511 5604-1502,
e-mail: gabriele.handrick@hannover-re.com)
Investor Relations:
Axel Bock (tel. +49 511 5604-1736,
e-mail: axel.bock@hannover-re.com)
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
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02.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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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: info@hannover-re.com
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
DGAP-News: Hannover Re transfers US named storm risks to the capital markets
| Source: EQS Group AG