Hannover Re best reinsurer overall in North America
Hannover, 7 September 2006:
In a survey conducted by the widely respected US-based Flaspöhler Research Group, Hannover Re came out as the best overall reinsurer for the second time in succession. Not only that, the company’s standing showed further appreciable improvement in the assessment of the participating brokers, 63.1% of whom chose Hannover Re as the best reinsurer on the North American market. The company’s lead over the second-best player stood at around 15 percentage points, and Hannover Re received almost double the number of votes of its third-placed competitor.
366 experts at leading reinsurance brokerage firms took part in the study, giving their opinions on 28 reinsurers active in the US market. Bearing in mind that North American reinsurance business is predominantly handled through brokers – they place more than two-thirds of the total market volume –, these findings take on considerably greater significance.
Particularly favourable reference was made to the good personal relationships with the underwriters in Hannover and the company’s quick, responsive handling of business. This is all the more remarkable given the fact that Hannover Re writes its entire North American portfolio from its Hannover Home Office. In terms of market know-how and client orientation too, geographical distance is quite obviously not a drawback for Hannover Re.
In this, the most important survey of the North American market, the participating brokers rated Hannover Re as the best reinsurer in the following categories:
* Best reinsurer overall in North America;
* Best reinsurer in the categories “Effective Underwriting Process” and “Responsive Service”;
* Best lead reinsurer for the lines “Casualty Working Layer”, “Casualty Excess”, “Workers’ Compensation”, “Casualty Umbrella”, “Excess & Surplus Lines” and “Aviation/Space”;
* Best lead reinsurer in the market segments “National Accounts”, “Middle Market Commercial”, “Regional/Mutual” and “Excess & Surplus Lines”.
This outstanding overall rating is a special mark of distinction for Hannover Re, not least in view of the fact that North America is the company’s largest single market in its property and casualty reinsurance Business Group with gross premium of EUR 1.6 billion. Producing 45% of total gross premium income across all business groups in 2005, North America is also Hannover Re’s most important regional market overall.
- Contact Information
- Gabriele Handrick
- Chief Public Relations Manager
- Hannover Re
- Contact via E-mail
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