DGAP-News: Hannover Re subsidiary anticipates stable conditions in the German market


DGAP-News: Hannover Rück SE / Key word(s): Miscellaneous
Hannover Re subsidiary anticipates stable conditions in the German
market

20.10.2014 / 13:30

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Hannover Re subsidiary anticipates stable conditions in the German market

Baden-Baden, 20 October 2014: E+S Rück - which bears responsibility within
the Hannover Re Group for German business - expects to see broadly stable
conditions and prices in the treaty renewals as at 1 January 2015.
 
"Heavy loss expenditures, especially in connection with June storm Ela as
well as belatedly reported claims from hailstorm Andreas in the previous
year, should be a factor in the upcoming renewals and serve to at least
keep rates stable for loss-impacted covers", Mr. Michael Pickel, a member
of the company's Executive Board, explained at a press conference during
the week-long meeting of reinsurers in Baden-Baden.

In light of the trend towards an accumulation of extreme weather events in
Germany and the associated higher losses, many primary insurers are
reviewing their risk protection with an eye to avoiding potential
volatility in their results. In this context E+S Rück supports its clients
with catastrophe analysis tailored to their needs and is thereby able to
offer bespoke reinsurance solutions. "Bearing in mind the losses that have
occurred in the past and the likelihood of increased localised weather
events in the future, we expect to see growing demand for coverage
concepts", Mr. Pickel emphasised.

When it comes to renewing long-tail lines such as general liability and
motor liability, allowance will have to be made not only for the further
decline in interest rates but also for the claims experience from prior
years. This will likely prompt a corresponding need for adjustments, which
should at least result in rates remaining stable.

The situation in industrial fire insurance continues to be under strain
owing to the considerable number of basic losses. Against this backdrop E+S
Rück expects to see improvements in conditions.

All in all, E+S Rück anticipates further market opportunities in 2015 and
considers itself well on track to maintaining its market share on a high
level going forward.

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: 
Julia Hartmann (tel. +49 511 5604-1529, 
e-mail: julia.hartmann@hannover-re.com) 

Please visit: www.hannover-re.com

Hannover Re, with gross premium of EUR 14.0 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 2,400
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



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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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