Hannover, 5 August 2015: Following intensive preparations, the
Hannover Re Group has received the approval of the Federal
Financial Supervisory Authority (BaFin) to calculate its solvency
capital requirements according to its internal capital model with
the implementation of Solvency II. This model has been
successfully used for the risk management and steering of the
Hannover Re Group for several years and covers the most
important risk categories, namely underwriting risk, market risk
and counterparty default risk.
'With our internal capital model, compared to the standard
model, we can best reflect the risk structure of our reinsurance
business and also efficiently implement the supervisory capital
requirements within the Solvency II framework', Chief Executive
Officer Ulrich Wallin explained.
According to the upcoming Solvency II guidelines the capital
adequacy ratio as of 31 December 2014 continues to be at a
comfortable level above 250%.
For further information please contact:
Corporate Communications:
Karl Steinle (tel. +49 511 5604-1500,
e-mail: karl.steinle@hannover-re.com)
Media Relations:
Gabriele Handrick (tel. +49 511 5604-1502,
e-mail: gabriele.handrick@hannover-re.com)
Investor Relations:
Julia Hartmann (tel. +49 511 5604-1529,
e-mail: julia.hartmann@hannover-re.com)
Please visit: www.hannover-re.com
Hannover Re, with gross premium of EUR 14.4 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 2,500 staff. The rating agencies most relevant to
the insurance industry have awarded Hannover Re very strong insurer financial strength
ratings (Standard & Poor's AA- 'Very Strong' and A.M. Best A+ 'Superior').
Please note the disclaimer:
https://www.hannover-re.com/535917
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