Hannover Rueck SE Registered Shares

HNR1: XETR (DEU)
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Hannover Is One of the Best Reinsurers

Business Strategy and Outlook

Hannover is probably one of the most efficiently run reinsurers in our European reinsurance coverage. The business is based in a low-cost location, and the number of employees that support the business is more efficient than at peers. We believe the combination of its low-cost location, lean and flat structure, organic growth over acquisitions, and homogenous technology have made the group the most expense-efficient European reinsurer we cover. Versus larger peers, we think Hannover is a more agile and nimbler organization, and its focus on brokers as its primary channel would support this. Through these brokers, Hannover supports insurance companies, mutuals, and governments as clients.

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