Global Cat XL
Following the strategic decision made by Hannover Re a decade ago, the underwriting of all reinsurance treaties covering the effects of large, primarily natural catastrophes (e.g.property cat xol) has since been concentrated in Bermuda.
100% owned Hannover Re Bermuda serves as our designated carrier for this business. With a shareholder's equity well above EUR 1billion the company commands an exellent capitalisation. Its staff are not only experts in analysing and modelling catastrophe exposures, but also dedicated to a professional and time-efficient customer service.
Hannover Re Bermuda is the "centre of excellence" within the Hannover Re Group for property catastrophe business. Modeling is an essential part of our exposure analysis and is utilised extensively to underwrite the catastrophe risks of our clients.
The Hannover Re Group has always played a significant role in this reinsurance segment, and Hannover Re Bermuda intends to become one of the preferred reinsurers in property catastrophe business. The company actively explores the market for new business opportunities by offering capacity to new clients.
Hannover Re Bermuda mainly provides property catastrophe protection covers on an Excess of Loss basis. Through our concentration of property catastrophe underwriting within a single unit, our cedants can feel confident that their programmes will be handled in a professional and time-efficient manner.
Continued growth is not only expected in property catastrophe Excess of Loss covers but also in other catastrophe related business fields. In 2002, Hannover Re Bermuda expanded its scope of business to catastrophe related Personal Accident business as well as Workers Compensation and Terrorism Business.
With its location in Bermuda, Hannover Re Bermuda is positioned in the centre of the most dynamic and active catastrophe market in the world. To underline its commitment and its expectations to Hannover Re Bermuda, Hannover Re as the sole owner gave us a preferential status in capital allocation.
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