Global reinsurer Hannover Re has announced it will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective from the 1st of April 2024.

According to Hannover Re, the new business unit will further enhance its position as “a trusted business partner” for insurtechs and clients seeking coverage for cyber risks both in treaty and facultative reinsurance.

“Especially reinsurance coverage of cyber business benefits from a centralised approach on a portfolio-level with regards to diversification, accumulation and cycle management,” the firm added.

The move will also reportedly allow Hannover Re to expand its data and analytics capabilities and scale its cyber retrocession capacities.

Stefan Sperlich will head the new cyber and digital business unit as Managing Director. He joined Hannover Re in 2009 as a structured reinsurance underwriter with different regional responsibilities over the past 15 years.

Since 2019, Sperlich has been leading the North American structured reinsurance business. In addition, he formed and headed Hannover Re’s digital business accelerator for property and casualty business.

Sperlich will report to Silke Sehm, responsible member of Hannover Re’s Executive Board, who commented, “The creation of a dedicated cyber and digital business unit allows us to create consistency and the best possible capacity for our clients and business partners.

“For insurtechs and many clients seeking cyber risk protection, we are already the trusted reinsurance partner.

“At the same time, Hannover Re’s underwriting approach with a focus on profitability and long-term partnership will provide us with balanced and profitable growth in this area.”

As per Hannover Re, the new unit will be located in Hannover and consists of the firm’s highly experienced underwriters and experts in cyber and digital risks.

The new team will also closely cooperate with the global market units and local offices to support business generation and client management.

 

Fuente: Reinsurance News

Enlace: https://www.reinsurancene.ws/hannover-re-creates-new-specialty-reinsurance-business-unit/