DGAP-News: Hannover Rück

Press Release

Hannover Re completes acquisition of Lloyd's syndicate

Hannover, 21 July 2017: The acquisition of the UK holding company Argenta Holdings Limited, which owns the companies Argenta Syndicate Management and Argenta Private Capital as well as a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121, was successfully completed yesterday. Hannover Re had announced an agreement to acquire Argenta Holdings back in March.

The acquisition is effective 20 July 2017.

By making this acquisition Hannover Re has gained additional access to international and London Market business while at the same time supporting Argenta in its future growth strategy. Syndicate 2121 booked gross written premium of GBP 280 million for the 2016 financial year.

Hannover Re, with gross premium of EUR 16.4 billion, is the third-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 2,900 staff. Established in 1966, the Hannover Re Group today has a network of more than 100 subsidiaries, branches and representative offices worldwide. The Group's German business is written by the subsidiary E+S Rück. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück very strong insurer financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".

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https://www.hannover-re.com/535917

Contact
 
Media Relations:
Gabriele Handrick
tel. +49 511 5604-1502
gabriele.handrick@hannover-re.com
 
Investor Relations:
Julia Hartmann
tel. +49 511 5604-1529
julia.hartmann@hannover-re.com
 
www.hannover-re.com