Organisation
Hannover Re Advanced Solutions - The Irish Team and our U.S. Representative Office
Our Irish company Hannover Reinsurance (Ireland) Ltd. is adequately capitalised to meet market requirements, has excellent ratings and can draw on considerable expertise from Hannover Re’s home office in Germany.
All the means of modern communication notwithstanding, reinsurance remains a business built on personal contacts and trust. To go beyond the regular visits of Hannover Re Advanced Solutions’ underwriters to the U.S., we established our U.S. Representative Office in 2003.
Run by Reinhard Elers, Senior Vice President and original founder of Hannover Re Advanced Solutions, he is our on-the-spot contact for discussing business ideas, initial reinsurance proposals and suggestions. Understanding both the demands of our U.S. business partners and our own internal underwriting procedures and requirements, he will bridge anything from time zone differences to mentality barriers.
Of course, the U.S. Representative Office is to promote Structured Reinsurance and expand our client base. Our reinsurance brokers are an important partner in this effort. When it comes to presentations or meetings on short notice, our U.S. location is of particular benefit. The latter also includes client visits and on-site underwriting and claims reviews, which are conducted by or in cooperation with our Representative Office.
Hannover Re Advanced Solutions - The German Team
Being one of the largest providers of Structured Reinsurance solutions, we operate under the brand name “Hannover Re Advanced Solutions” in order to underscore our expertise in the development of solutions individually tailored to clients’ needs – know-how that is the hallmark of our business.
The German team services all markets worldwide. When it comes to providing our clients with flexible and individually tailored service, we are assisted by the fact that in our Structured Reinsurance acceptances we can draw on the underwriting expertise available from Hannover Re’s traditional market department and from our representative offices worldwide. Hannover Re Advanced Solutions makes deliberate, systematic use of these resources and integrates them into its decision-making. We achieve the desired risk diversification by spreading the geographical location and risk category of our acceptances, which may for example encompass both property and casualty business.
The German team also constitutes the centre of actuarial competence for the entire Hannover Re Advanced Solutions.
The markets on which we are represented are North America, Germany, the rest of Europe, especially including the countries of Eastern Europe, Australia, Asia, Latin America, the Middle East and Africa. We operate in accordance with detailed strategies for each of these regions, and especially in the case of Europe it is our assumption that the adoption of IFRS accounting standards will be accompanied by stronger demand for Structured Reinsurance products.
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