We open up new perspectives and opportunities

Whether in developed countries or in emerging markets, the insurance of agricultural risks and livestock is of great importance. Our clients in this highly specialised business segment are not only looking for reinsurance cover, but in particular for our advice and many years of expertise. The most frequently reinsured risks include weather-related risks such as hail freez or draught multi-peril crop risks, for forestry and greenhouses as well as livestock and breeding animals or aquaculture.

We have been developing obligatory and facultative reinsurance solutions for all sectors of the aviation and aerospace business for well over 30 years. We leverage our experience, knowledge and capacities to offer our customers the best possible solutions and services for their Aviation and Space portfolio. This ranges from the general requirements of aviation and complex areas of responsibility such as the launch and in-orbit satellite business.

The frequency, severity and complexity of natural disasters are increasing. Hannover Re Bermuda is our specialised reinsurer for providing natural catastrophe non-proportional cover – i.e. for events with a low probability of occurrence but a potentially high level of loss.

When it comes to securing and financing international trade, we are experienced and well positioned. All underwriting is centralised at our office in Hannover, with support from our local branches around the world. We deal with the reinsurance of risks arising from international trade and investment transactions. This primarily involves hedging risks that may be caused by insolvency, late payment, embargo, expropriation or other political events

Our responsibilities cover all lines of marine insurance as well as the obligatory business for offshore energy insurance. These include, for example, reinsurance for goods transport, marine hull, third-party liability for marine transport and marine technology, art and valuables. In all aspects of our business, we strive to provide services that are recognised as the best in their class.

The high and constantly growing dependence on IT systems, applications and software ensures a high demand for reinsurance – both in the treaty business and in facultative business. We support both established insurers and new market entrants with innovative niche offerings with various types of cyber reinsurance solutions around the globe.

Our index-based insurance products cover and settle claims based on objectively measured parameters and not on actual physical damage. Whether in the agricultural, energy, retail, property, transport or cyber sectors, parametric solutions can be applied to many risks in different industries. They can supplement conventional cover or provide cover for risks that were previously uninsurable. Our parametric experts are based in our Hannover office and provide support beyond the obligatory business with advice on possible structuring and technical solutions.

The accelerated growth in the markets, the increase in insurable values and the growing need to insure against natural disasters are creating a high demand for risk cover. Our approach: we transfer reinsurance risks to the capital market, both in Life & Health and Property & Casualty reinsurance. We use securitisations in particular, but also fronting solutions. In co-operation with brokers and banks, we thus help our customers to better distribute and manage risks.

In addition to the transfer of underwriting risks, our structured reinsurance concepts also help our clients to optimise their equity. Our solutions are customised to the needs of primary insurers and combine various reinsurance concepts. In this way, we support our clients in improving their solvency margin and developing efficient capital optimisation measures.

Divided into the Onshore Energy and Offshore Energy divisions classes, we take care of highly specialised reinsurance concepts. They include resource exploration and extraction as well as power generation, but also reinsurance cover for offshore structures and their construction and risks in connection with oil production. The area of renewable energies has also become increasingly important for our business underwriting activities in recent years.

In the financial sector, we are focussing on products for banks. In this field of activity, the insurance of professional third-party liability, directors' and officers' liability and the granting of bankers' blanket bonds (equivalent to fidelity insurance in the non-financial sector) require a comprehensive understanding of the entire financial market and its risks.

In some countries, such as France, Italy or Spain, construction companies require cover for their statutory liability for construction defects of all kinds for a period of up to ten years after completion of the construction work. As part of a decennial reinsurance contract, we assume this risk for the contractor and/or the other parties involved in the construction project. This cover can be seen as a supplement to technical insurance, which does not include cover for hidden defects arising during the warranty period.

Mortality risk is generally defined as the risk that a person for whose death an insurance benefit has been taken out will live for a shorter period than expected. Our clients rely on our comprehensive expertise in the assessment of mortality risk. To this end, we draw on data-based findings, detailed market knowledge and innovative approaches. We support our clients in designing competitive products that meet the needs of the modern policyholder. Products in this category include term life insurance and endowment insurance.

Morbidity risk is the risk that a person's state of health will be impaired by illness, impairment of organs or other parts of the body (functional disability), injury or frailty. The range of health insurance cover and products is diverse. As a reinsurer, we are the point of contact for pure life insurers as well as for composite and specialised health insurers. In addition, there is no "universal solution" for health insurance cover and health-related policies for the different regions of the world. One of the reasons for this is that the quality of basic state services can vary greatly from country to country. Our global network of healthcare experts offers our clients local know-how and the transfer of expertise to other markets. Products in this category include private health insurance, for example.

Longevity risk is the risk that a person will live longer than expected. This is particularly relevant for pension insurance policies. In many countries, the pension system is made up of three pillars: state pension, occupational pension scheme and private pension scheme. It is therefore not only individuals who need a secure income for longer than expected in retirement who are exposed to the risks resulting from longer life expectancy. Governments, companies that offer a company pension scheme for their employees, pension funds and life insurers whose pension obligations are increasing are equally affected. Hannover Re is a global market leader in the area of longevity. We develop customised solutions for our clients to transfer longevity risk and offer comprehensive support. Products in this category include annuities, for example.