Australia
Hannover Re has been doing business in Australasia since the 1970's, and in fact the very first contract was signed in January, 1974. 1985 saw the opening of the Australian Branch Office in Sydney. At the time it was decided to outsource financial accounting, supervision compliance, and all other administrative issues to Littlewoods Services. Ross Littlewood is our appointed Agent in Australia. Together with the team at the Re Centre, the Branch is located in Australia Square, one of the landmarks in Sydney's skyline.
The territorial scope of business of the Australasian region comprises Australia, New Zealand and the surrounding Pacific Island markets.
Despite the fact that the underwriting of our portfolio is co-ordinated in a centralised approach out of Hannover, Germany, Hannover Re is truly viewed as a local reinsurer from a client's perspective.
The Australian Branch is separately capitalised in line with Minimum Capital Requirements imposed by the local insurance regulator Australian Prudential Regulation Authority (APRA). Hannover Re is an authorised entity enjoying the full financial strength of the Hannover Re global balance sheet. Since November 2004, the responsibilities of the branch have been extended to facultative local underwriting. Please find contact details by clicking on the link in the right border column.
Property and Casualty treaty underwriting is conducted by the Australasian treaty team based in Hannover. You can find the team by following the link in the right border column.
In addition, special lines like Agricultural, Marine, Aviation, and Credit & Bond insurance are serviced by further underwriting specialists in Home Office Hannover using the Australian Branch stamp.
Hannover Re underwriters are travelling regularly to the market in Australia and New Zealand, at least on a quarterly basis, to discuss business matters with our clients and brokers.
Natural catastrophe business is underwritten by our group company Hannover Re Bermuda Ltd.
Hannover Re's position in Australia is complemented by Hannover Life Re of Australasia, based in Sydney.
|
