Sustainability Report 2015
Organisational profile
The operational Group structure
The Hannover Re Group is organised according to strategic business groups, i.e. split into Property & Casualty and Life & Health reinsurance.
Of the total gross premium of EUR 17.1 billion written in 2015, 55% was attributable to property and casualty reinsurance and 45% to life and health reinsurance.
In property and casualty reinsurance we assume risks in accordance with our margin-oriented underwriting policy from our clients, thereby enabling our clients to reduce their underwriting risks. Reflecting the areas of Board responsibility, we break the business group down into the following three subsegments:
- target markets, which we have defined as Continental Europe and North America,
- specialty lines, i.e. marine, aviation, credit, surety and political risks, facultative reinsurance as well as the United Kingdom, Ireland, London Market and direct business,
- global reinsurance, i.e. worldwide treaty reinsurance, natural catastrophe business as well as structured reinsurance and Insurance-Linked Securities.
Hannover Re reports the business that it writes in life and health reinsurance split into the categories of financial solutions and risk solutions. The latter category is, in turn, differentiated according to the risk types of longevity, mortality and morbidity. In addition to life and health insurers, our clientele in the Life & Health reinsurance business group includes banks, sales companies and pension funds.
In addition to the regional and treaty divisions, the main departments of Hannover Re are Business Opportunity Management and Risk Management, Controlling, Finance and Accounting, Information Technology, Investments, Human Resources Management, Group Legal Services and Compliance, Group Auditing, Corporate Development, Corporate Communications and Facilities Management.
The Group's worldwide presence
Hannover Rück SE operates globally and is represented by a network of 130 subsidiaries, affiliates, branches and representative offices with a total workforce of 2,568 (valid: 31 December 2015). In addition to the Home Office in Hannover (52.1% of the workforce), our major locations are in the United States (11.0% of the workforce) as well as the United Kingdom and South Africa (each accounting for 6.1% of the workforce).
The registered office of the Group company International Insurance Company of Hannover SE, London (Inter Hannover SE), was relocated from the United Kingdom to Hannover, Germany, in the 2015 financial year. Inter Hannover SE has been licensed to commence insurance operations in Germany and was entered in the commercial register in January 2015.
Further material changes in the Group structure of Hannover Re are listed in the Group Annual Report 2015. These include the major acquisitions and new formations, disposals and retirements as well as other corporate changes.
A complete list of our shareholdings is provided on page 160 et seq. of the Annual Report 2015.
