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Hannover Re Inches Closer To Sign Life-Reinsurance Agreement

The company has closed a medium size transaction in the US and one in the UK, this year

German reinsurer Hannover Re is all set to sign a life-reinsurance agreement in Hong Kong, its third deal this year to help life insurers boost capital – reported Bloomberg.

The company has closed a medium size transaction in the US and one in the UK, in addition to the deal it is closing in Hong Kong.

Hannover Re claims that such reinsurance deals are useful in assisting primary insurers strengthen capital and block assumption transactions.

Wolf Becke, Head of Hannover Re’s Life and Health-Reinsurance Division, said: “We are clearly seeing increasing demand for life reinsurance as it’s the best option life insurers have to strengthen their capital. Options such as raising capital or selling risks to the capital markets by insurance-linked securities are expensive and difficult.”