Hannover Rueckversicherung AG : Hannover Re Estimates Burden of Losses for Wrecked Costa Concordia
01/23/2012| 05:05am US/Eastern
Recommend:
As already reported by Hannover Re on 16 January, the incident involving
the Costa Concordia cruise ship will result in a major loss for the
company. The loss expenditure from marine hull insurance will be in the
region of EUR 30 million for the company's net account. Liability claims
are difficult to assess at this point in time. The assumption is that a
market loss running into triple-digit millions of euros could result.
The total loss for Hannover Re - as a leading marine reinsurer - could
therefore be in the mid-double-digit million euro range.
Please visit: www.hannover-re.com
Hannover Re, with a gross premium of around EUR 11 billion, is the
third-largest reinsurer in the world. It transacts all lines of non-life
and life and health reinsurance and is present on all continents with
around 2,200 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
'Excellent').
Please note the disclaimer: www.hannover-re.com/misc/disclaimer-pr-050811
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Language:
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English
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Company:
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Hannover Rückversicherung AG
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Karl-Wiechert-Allee 50 30625
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Hannover Germany
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Phone:
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+49-(0)511-5604-1500
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Fax:
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+49-(0)511-5604-1648
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E-mail:
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info@hannover-re.com
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Internet:
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www.hannover-re.com
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ISIN:
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DE0008402215
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WKN:
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840 221
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Listed:
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Regulierter Markt in Frankfurt (Prime Standard), Hannover;
Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart;
Terminbörse EUREX
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Hannover Rückversicherung AG
Corporate Communications:
Karl
Steinle
tel. +49 511 5604-1500
e-mail: karl.steinle@hannover-re.com
or
Media
Relations:
Gabriele Handrick
tel. +49 511 5604-1502
e-mail:
gabriele.handrick@hannover-re.com
or
Investor
Relations:
Klaus Paesler
tel. +49 511 5604-1736
e-mail: klaus.paesler@hannover-re.com
© Business Wire 2012
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