5.2 Further corporate changes

In June 2009 Hannover Re acquired a 23.6% stake in the capital of PlaNet Guarantee (SAS), Saint-Ouen, France. The company\x92s business object is to develop and broker micro-insurance and micro-finance products. The company is recognised as a participating interest at amortised cost.

In 2008 Hannover Re established the special purpose entity Globe Re in Bermuda as part of its extended Insurance-Linked Securities (ILS) activities. Hannover Re held a stake of 15.2% in the equity tranche and did not exercise a controlling influence over the special purpose entity through any of its business relations. Since the transaction was terminated in the year under review as agreed in the contract, the company was liquidated on 27 November 2009.