DGAP-News: Hannover Rück SE / Key word(s): Miscellaneous
Hannover Rück SE: Hannover Re Group receives BaFin approval for its
internal capital model
05.08.2015 / 14:00
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Press release
Hannover Re Group receives BaFin approval for its internal capital model
Hannover, 5 August 2015: Following intensive preparations, the Hannover Re
Group has received the approval of the Federal Financial Supervisory
Authority (BaFin) to calculate its solvency capital requirements according
to its internal capital model with the implementation of Solvency II. This
model has been successfully used for the risk management and steering of
the Hannover Re Group for several years and covers the most important risk
categories, namely underwriting risk, market risk and counterparty default
risk.
"With our internal capital model, compared to the standard model, we can
best reflect the risk structure of our reinsurance business and also
efficiently implement the supervisory capital requirements within the
Solvency II framework", Chief Executive Officer Ulrich Wallin explained.
According to the upcoming Solvency II guidelines the capital adequacy ratio
as of 31 December 2014 continues to be at a comfortable level above 250%.
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 14.4 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
2,500 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:
https://www.hannover-re.com/535917
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05.08.2015 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: Regulated Market in Frankfurt (Prime Standard), Hanover;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart; Terminbörse EUREX; Luxemburg
End of News DGAP News-Service
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383817 05.08.2015
DGAP-News: Hannover Rück SE: Hannover Re Group receives BaFin approval for its internal capital model
| Source: EQS Group AG