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Hannover Rück (Other OTC:HVRRF.PK) Hannover Re voted best overall reinsurer in North America three times in succession
Hannover, 27 May 2008: In a broker survey conducted by the highly regarded US-based Flaspöhler Research Group Hannover Re has been voted best overall reinsurer in North America for the third time in succession - following on from 2004 and 2006.
"This result underscores the continuity of Hannover Re's underwriting and service over a timespan of six years. It is all the more remarkable inasmuch as we scored so highly in both hard and soft markets", Chief Executive Officer Wilhelm Zeller noted.
More than 400 experts from leading brokerage houses responded to the survey. Hannover Re left the second-ranked player trailing by a good 10 percentage points. This year the survey evaluated 32 reinsurers active in the US market, the largest in the world; in 2006 the figure was 28.
The findings of the Flaspöhler survey take on added significance in view of the fact that 70% of US non-life reinsurance business is placed through brokers.
For further information please contact:
Press and Public Relations / Investor Relations: Stefan Schulz (tel. +49 / 511 / 56 04-15 00, e-mail: stefan.schulz@hannover-re.com)
Press and Public Relations: Gabriele Handrick (tel. +49 / 511 / 56 04-15 02, e-mail: gabriele.handrick@hannover-re.com)
Hannover Re, with a gross premium of around 8 billion euro, is one of the leading reinsurance groups in the world. It transacts all lines of non-life and life and health reinsurance. It maintains business relations with more than 5,000 insurance companies in about 150 countries. Its worldwide network consists of more than 100 subsidiaries, branch and representative offices in around 20 countries with a total staff of roughly 1,800. The rating agencies most relevant to the insurance industry have awarded Hannover Re very strong insurer financial strength ratings (Standard & Poor's AA- "Very Strong" and A.M. Best A "Excellent").
Disclaimer: Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Hannover Re does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Hannover Re and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
