• Sun. Apr 21st, 2024

Hannover Re launches a new specialty reinsurance business unit

BySamantha Johnson

Mar 26, 2024
Hannover Re launches a new specialty reinsurance business unit

Global reinsurer Hannover Re has announced that it will merge its global cyber and digital business to create a new specialty reinsurance business unit, effective from April 1, 2024. This move is aimed at enhancing Hannover Re’s position as a trusted business partner for insurtechs and clients seeking coverage for cyber risks in both treaty and facultative reinsurance. The firm believes that centralizing the approach to cyber reinsurance on a portfolio-level will benefit diversification, accumulation, and cycle management.

By consolidating its cyber and digital business, Hannover Re also aims to expand its data and analytics capabilities and increase its cyber retrocession capacities. Leading this new business unit will be Stefan Sperlich, who has been with Hannover Re since 2009 and has held various regional responsibilities over the years. Sperlich has been instrumental in leading the North American structured reinsurance business and creating and managing the digital business accelerator for property and casualty business.

Sperlich will report to Silke Sehm, a member of Hannover Re’s Executive Board, who believes that the creation of a separate cyber and digital business unit will enable the company to provide consistency and optimal capacity for its clients and business partners. Hannover Re’s underwriting strategy, focused on profitability and long-term partnerships, is expected to drive balanced and profitable growth in the cyber and digital reinsurance segment.

The new cyber and digital business unit will be based in Hannover and will comprise experienced underwriters and experts in cyber and digital risks. The team will collaborate closely with global market units and local offices to support business development and client management. Hannover Re’s commitment to being a trusted reinsurance partner for insurtechs and clients seeking cyber risk protection remains unchanged, with a renewed focus on providing value and long-term support to its clients.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

Leave a Reply