Northern Europe

In the markets of Northern Europe Hannover Re is a major provider of insurance covers. This is due both to the capacities that we make available and our very good rating. The fact that we are the only reinsurer with a branch in Scandinavia also works to our advantage.

Competition in Northern Europe remains fierce in both the primary and reinsurance sectors. With the markets softening, we have scaled back our portfolio. The mutual insurers segment continues to be a focal point of our underwriting policy.

Several natural disasters occurred in the year under review, causing losses that also affected Hannover Re; the severe rainfall in Denmark may be mentioned by way of example.