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Hannover Re hands over special insurance to the parent company Talanx

Thursday, 11/11/2021 2:42 PM from

dpa-AFX

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HANNOVER (dpa-AFX) – The world’s third largest reinsurer Hannover Re (Hannover Re share) gives its stake in the specialty insurer HDI Global Specialty to its parent company Talanx away. “With this agreement, Hannover Re underscores its strategic positioning as a pure reinsurer,” announced the company in Hanover on Thursday. From the end of the year, HDI Global Specialty will belong entirely to Talanx’s HDI Global division. Both companies started HDI Global Specialty in 2019. Hannover Re currently holds 49.8 percent of the shares.

At Hannover Re, this step frees up previously tied up risk capital that it can use in the future to expand its core business. The board of directors continues to expect prices there to rise. Talanx expects the complete takeover to give it more independence in making decisions, for example in the case of mergers and acquisitions. HDI Global Specialty offers contracts, among other things, in financial loss liability, directors ‘and officers’ liability, legal protection, everything to do with sports and entertainment, aviation, offshore energy and animal insurance. Most recently, the company came up with a premium volume of around 2.5 billion euros./stw/ngu/jha/

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