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Sunday, April 14, 2024

Hannover Re to unify international cyber and digital dangers below new unit 

Hannover Re is about to launch a specialty reinsurance enterprise unit by integrating its international companies targeted on cyber and digital dangers.  

This transfer, which can come into impact from 1 April, goals to consolidate the corporate’s international cyber enterprise, thereby bolstering its underwriting experience.  

By means of the brand new unit, the reinsurer goals to cement its place as a number one accomplice for insurtech corporations and purchasers navigating the advanced panorama of cyber threats. 

Hannover Re’s new enterprise unit is anticipated to learn from a portfolio-level method by way of diversification, accumulation and cycle administration.  

The transfer can also be designed to develop the corporate’s knowledge and analytics capabilities and enhance its cyber retrocession capacities. 

Set to be based mostly in Hannover, Germany, the brand new unit will comprise a staff of underwriters and specialists in cyber and digital dangers.  

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These professionals will work in tandem with international market models and native places of work to drive enterprise growth and handle consumer relationships successfully.  

Stefan Sperlich, whose profession at Hannover Re began in 2009, will head the brand new unit as managing director. 

He has headed the North American structured reinsurance enterprise since 2019.  

Moreover, Sperlich has been key in forming and main Hannover Re’s digital enterprise accelerator for property and casualty enterprise.  

In his new position, he’ll report back to Hannover Re govt board member Silke Sehm. 

Sehm added: “The creation of a devoted cyber and digital enterprise unit permits us to create consistency and the very best capability for our purchasers and enterprise companions. 

“For insurtechs and many purchasers looking for cyber threat safety, we’re already the trusted reinsurance accomplice. On the identical time, Hannover Re’s underwriting method with a deal with profitability and long-term partnership will present us with balanced and worthwhile progress on this space.” 

In 2023, Hannover Re’s father or mother, Talanx, reported web earnings of €1.58bn ($1.71bn), a 123% enhance from the earlier 12 months’s €706m. 

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