Our 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 16.4 billion written in 2016, 56% was attributable to property and casualty reinsurance and 44% to life and health reinsurance.
In property and casualty reinsurance we assume risks from our clients in accordance with our margin-oriented underwriting policy, thereby enabling them to reduce their underwriting risks. Reflecting the areas of Board responsibility, we break the business group down into three subsegments:
We report the business that we write 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. Our clientele in the Life & Health reinsurance business group includes life and health insurers, banks, sales companies and pension funds.
In addition to the regional and treaty divisions, the Group's main departments 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.
We operate globally and are represented by a network of more than 100 subsidiaries, affiliates, branches and representative offices with a total workforce of 2,893 (valid: 31 December 2016). In addition to the Home Office in Hannover with 1,349 employees (46.6% of the workforce), our major locations are in the United States (312 employees; 10.8% of the workforce), South Africa (276 employees; 9.5% of the workforce) as well as the United Kingdom (235 employees; 8.1% of the workforce) and Sweden (180 employees; 6.2% of the workforce).
Material changes in our Group structure are described in the Group Annual Report 2016 (Notes 4.3-4.5). 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 158 et seq. of the Annual Report 2016.
Our long-standing principal shareholder is Talanx AG. It is majority-owned by "Haftpflichtverband der Deutschen Industrie" (HDI). As a mutual insurance company, HDI's focus on long-term corporate success plays a positive part in sustainable value creation.