Hannover Re increases its "K6" capital market transaction

(Thomson Reuters ONE) - Hannover R?/ Hannover Re increases its "K6" capital market transaction processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. Hannover, 27 January 2010: Hannover Re has given the capital market anotheropportunity to participate in (natural) catastrophe risks. The "K6" transaction,which was launched in 2009, was further boosted by the maximum targeted amountof USD 152 million to a total volume of USD 329 million; it was taken up by newand existing investors alike. Placement proved highly successful for HannoverRe, with investor demand comfortably outstripping supply. This also confirmsthat the market for alternative risk transfer, which had contracted in the wakeof the financial market crisis, has recovered."Our latest capital market transaction serves to complement our traditionalprogramme of protection cover, which we use to protect against peak exposuressuch as natural catastrophes", Chief Executive Officer Ulrich Wallin explained."Our investors enjoy extremely attractive returns given a normal experience ofthe covered portfolio. What is more, they are able to diversify their ownportfolio and exclude the usual interest rate risks associated with othercapital market products."The additional interests in the "K6" transaction were taken out in the form ofthree-year contracts, which means that in future only part of the "K6" quotashare will be renewed at year-end. The transaction was placed with institutionalinvestors worldwide.The portfolio assembled for the "K6" securitisation consists of non-proportionalreinsurance treaties in the property catastrophe, aviation and marine (includingoffshore) lines.For further information please contact:Press and Public Relations / Investor Relations:Karl Steinle (tel. +49 511 5604-1500,e-mail: karl.steinle(at)hannover-re.com)Press and Public Relations:Gabriele Handrick (tel. +49 511 5604-1502,e-mail: gabriele.handrick(at)hannover-re.com)Investor Relations:Klaus Paesler (tel. +49 511 5604-1736,e-mail:klaus.paesler(at)hannover-re.com)Please visit: www.hannover-re.com Hannover Re, with a gross premium of around EUR 9 billion, is one of the leadingreinsurance groups in the world. It transacts all lines of non-life and life andhealth reinsurance. It maintains business relations with more than 5,000insurance companies in about 150 countries. Its worldwide network consists ofmore than 100 subsidiaries, branch and representative offices on all fivecontinents with a total staff of roughly 2,000. The rating agencies mostrelevant to the insurance industry have awarded Hannover Re very strong insurerfinancial strength ratings (Standard & Poor's AA- "Very Strong" and A.M. Best A"Excellent").Disclaimer:Some of the statements in this press release may be forward-looking statementsor statements of future expectations based on currently available information.Such statements are naturally subject to risks and uncertainties. Factors suchas the development of general economic conditions, future market conditions,unusual catastrophic loss events, changes in the capital markets and othercircumstances may cause the actual events or results to be materially differentfrom those anticipated by such statements. Hannover Re does not make anyrepresentation or warranty, express or implied, as to the accuracy, completenessor updated status of such statements. Therefore, in no case whatsoever willHannover Re and its affiliate companies be liable to anyone for any decisionmade or action taken in conjunction with the information and/or statements inthis press release or for any related damages.[HUG#1377507] --- End of Message --- Hannover R?Karl-Wiechert-Allee 50 Hannover GermanyWKN: 840221;ISIN: DE0008402215;Index:CDAX,MIDCAP,Prime All Share,HDAX,CLASSIC All Share;MDAX;

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
Leseranfragen:
PresseKontakt / Agentur:
Bereitgestellt von Benutzer: hugin
Datum: 27.01.2010 - 04:00 Uhr
Sprache: Deutsch
News-ID 1009565
Anzahl Zeichen: 0

contact information:
Contact person:
Town:

Hannover

Phone:

Kategorie:

Business News

Anmerkungen:


Diese Pressemitteilung wurde bisher 198 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"Hannover Re increases its "K6" capital market transaction
"
steht unter der journalistisch-redaktionellen Verantwortung von

Hannover R? (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

Alle Meldungen von Hannover R?