HANNOVER, Germany, Dec. 12, 2001 (PRIMEZONE) -- With effect from January 1, 2002, the Supervisory Boards of Hannover Re (GER:HNR) and E+S Rueck have appointed Dr. Michael Pickel as a full member of the Executive Board.
Dr. Pickel (41) has already been a deputy member of the Executive Boards of both companies since January 1, 2000. In this function he is responsible for property/casualty reinsurance for Germany, Austria, Switzerland and Italy, as well as for retrocession, claims management and the legal department.
Hannover Re, with gross premiums of EUR 8.3 bn., 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 worldwide network consists of more than 100 subsidiaries, branch and representative offices in 19 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.