May
Hannover Re best reinsurer in the United States
In a survey conducted by the US Flaspöhler Research Group Hannover Re is crowned best reinsurer overall in North America for the third time in succession. 32 reinsurers operating in the US market were included in the survey.
Life/health reinsurance in Asia
As part of the deregulation of the Korean market Hannover Re establishes a life branch in Seoul that will concentrate on bancassurance and the cultivation of new markets. In the same month it receives a license from the Chinese regulator (CIRC) to open a branch in China, thereby enabling it to conduct operational business as a local provider.
- The new Chilean company makes a splash at the Messe ExpoAlemania
Property & Casualty Group completes acquisition in Chile
HDI-Gerling International Holding AG takes over the company ISE Chile Compañía de Seguros S.A. The company, which was rebranded HDI Seguros S.A. at the beginning of 2009, is a successful property/casualty insurer with a sales focus on brokers, agents and retail chains.
- “Excellent” – quality seal for the Life Group
Top marks for the life insurance group
The rating agency Franke & Bornberg hands out top marks nine times to retirement provision solutions offered by Aspecta and HDI-Gerling Life. It awards the highest rating of FFF (excellent) to all surveyed unit-linked annuity products offered by both companies as well as the Riester annuity Duplex Dynamic tt.
Innovative capital market transaction
Hannover Re concludes the first transaction as part of its extended Insurance-Linked Securities activities: property catastrophe risks of several US cedants were bundled and transferred to the capital market. It thus enables clients to access the capital market for risks that would not lend themselves to this on a stand-alone basis.
July
Integration at PB completed
Effective 1 July BHW Lebensversicherung AG is rebranded PBV Lebensversicherung AG and BHW Pensionskasse becomes PB Pensionskasse AG. The PB insurers thereby complete the integration of the BHW companies.
August
PBV Lebensversicherung is financially strong
PBV Lebensversicherung AG receives good ratings: its first financial strength rating from Assekurata is an “A+”. The independent rating agency Morgen & Morgen follows with a 4-star rating (“very good”); the magazine WirtschaftsWoche adds PBV to its 5-star category reserved for the financially strongest companies.