Our Business Focus
Scope of Business
Following the strategic decision of Hannover Re to concentrate the property catastrophe excess of loss business in one company, Hannover Re Bermuda Ltd. (HRB) was licensed as a Class four reinsurer in Bermuda in April, 2001.
HRB is mainly providing property catastrophe protection covers on an excess of loss basis. Through our concentration on property catastrophe underwriting within a single unit, our cedants cannot only feel confident that their programmes will be handled in a professional and time-efficient manner, they can also look forward to a further enhancement of the service capabilities of Hannover Re Bermuda.
Financial Position
With its location in Bermuda HRB is positioned in the heart of the most dynamic and active catastrophe market in the world. Hannover Re as the sole owner of HRB equipped the company with an adequate capital base.
Diversification
Having started in 2001 with a pure property catastrophe book, we have meanwhile successfully expanded into catastrophe related Personal Accident covers as well as Workers Compensation and Terrorism Business.
Risk Spread
Hannover Re Bermuda's property catastrophe book has already achieved an impressive geographical spread.
Centre of Excellence
Hannover Re Bermuda is the "centre of excellence" within the Hannover Re Group for property catastrophe business. Modeling is an essential part within the exposure analysis and is utilized extensively to underwrite the catastrophe risks of our clients. Hannover Re Bermuda has been able to strengthen its position as one of the preferred reinsurers for catastrophe business. Nevertheless, the company is actively exploring the market for new business opportunities by offering capacity to new clients and by further expanding its geographical scope and its scope of catastrophe related business fields.
