EQS-News

Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit

EQS-News: Hannover Rück SE / Key word(s): Miscellaneous Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit 26.03.2024 / 09:30 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate news

Hannover Re combines cyber and digital underwriting expertise in new specialty reinsurance business unit

• New organisational structure to boost further development and scaling of profitable business opportunities in cyber and digital
• New business unit to be established effective 1 April 2024
• Stefan Sperlich to lead the new business unit 

Hannover, 26 March 2024: Hannover Re will combine its global business in the areas of cyber and digital to further strengthen its underwriting expertise by creating a new specialty reinsurance business unit.

Effective 1 April 2024, the new business unit will further enhance Hannover Re’s position as a trusted business partner for insurtechs and clients seeking coverage for cyber risks both in treaty and facultative reinsurance. Especially reinsurance coverage of cyber business benefits from a centralised approach on a portfolio-level with regards to diversification, accumulation and cycle management. The move will also allow Hannover Re to expand its data and analytics capabilities and scale its cyber retrocession capacities.

“The creation of a dedicated cyber and digital business unit allows us to create consistency and the best possible capacity for our clients and business partners,” said Silke Sehm, member of Hannover Re's Executive Board. “For insurtechs and many clients seeking cyber risk protection, we are already the trusted reinsurance partner. At the same time, Hannover Re’s underwriting approach with a focus on profitability and long-term partnership will provide us with balanced and profitable growth in this area.”