Hannover Life Re of Australasia (Hannover) has been writing life reinsurance business in Australia since 1958. As at 31 December 2007, Hannover had a total life and disability annual in-force premium in excess of $517 million. As outlined in the latest APRA statistics of 30 June 2007, our level of premium places Hannover as the largest life reinsurer in Australia.
Hannover Life Re of Australasia is part of the worldwide group of Hannover Re Group. By way of introduction to the Hannover Re Group, the following points may be of interest:
- Hannover Re was founded in 1966 and is one of the world's leading reinsurance groups.
- Hannover Re has an Insurer Financial Stregth Rating of AA- (very strong) from the rating agency Standard and Poor's and a rating of A (excellent) from A.M Best.
- Hannover Re's network consists of branches and representative offices in around 20 countries with total staff of approximately 2,000 worldwide.
- The gross premium income in 2007 for the Hannover Re group worldwide was equal to $AUD 14.9 billion.
- Total assets of the group worldwide in 2007 are equal to $AUD 58.5 billion.