U.S. Property Treaty Business
Our department is essentially responsible for all US (domiciled) property treaty business. However, we also entertain other first-party lines such as crisis management, contingency and kidnap & ransom.
Our core products on the property side are Risk XLs as well as Pro Rata treaties. On Risk XL programs we are one of the leading markets in the U.S., usually being part of the quoting panel and providing very meaningful capacity, preferably across the entire program. On Pro Rata treaties we target business with an above-average profit potential based on the client’s special knowledge and/or leadership position within a line of business. US Cat XLs are principally written by our Bermuda office. We only involve ourselves in this line of business if it is embedded in the client’s entire reinsurance program.
We are a market for Terrorism business (including NBCR) which we prefer to write on a stand-alone basis and with meaningful capacity. But we are also prepared to include this cover into the property program preferably on a separately rated basis.
Our goal is to offer our clients – cedants as well as brokers – solutions that are perfectly tailored to their needs and specifications. We aim to be a first-class service provider which includes quick turn-around times, responsiveness, ease of doing business.
Gross Written Premium Split (UY2023e)
Note: Majority of Hannover Re’s US Property Cat business is written by Hannover Re Bermuda
General Manager (SVP)