Hannover Is One of the Best Reinsurers

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.