Hannover, 8 January 2019

HDI Global Specialty SE, the new specialty lines insurer focused on high-margin business has commenced underwriting at the beginning of the year with premium volumes in excess of €1bn and targeting both organic and inorganic growth.

The insurer launches writing global specialty lines including accident and health, aviation, cyber, energy, extended warranty, financial and professional lines, legal expense, marine, political violence and political risk; pet and farmpack; and sport, leisure and entertainment risks. The company will operate from six of its own offices and throughout the HDI Global SE network in 150 countries.

Alongside organic growth opportunities from these business lines and through access to HDI Global SE's distribution network, HDI Global Specialty SE will pursue an active strategy identifying new teams, portfolios of business and M&A.

Ralph Beutter, formerly Chief Executive Officer (CEO) of Inter Hannover, assumes the role of CEO of HDI Global Specialty SE. Speaking about the launch of the business, Ralph Beutter said: "Bringing together our technical underwriting expertise and global footprint provides a strong platform from which to maximise the opportunities that exist within specialty lines. Our values and background mean we are also able to provide certainty and stability as a long-term partner for our clients and offer sustainable products that respond directly to their needs."

Richard Taylor, previously UK Managing Director of HDI Global SE, is appointed to the Executive Board of Management as Chief Marketing Officer, reporting to Ralph Beutter.

Richard Taylor commented: "This business has been established as a growth engine, leveraging expertise and global distribution with a low-cost base; all crucial factors in delivering profitable specialty lines business. We aim to be the platform of choice for the speciality lines market and we are in a strong position to deliver this."

HDI Global Specialty SE was created from the merging of the specialty lines activities of Hannover Re and HDI Global SE. HDI Global SE holds 50.2% of the new company and Hannover Re has 49.8%.


About HDI Global Specialty SE

Following approval by the supervisory authorities, HDI Global Specialty rolled-out operational activities on 1 January 2019.


HDI Global Specialty SE is a joint venture of Hannover Re and HDI Global SE, both being strong and established players in the insurance and reinsurance market. Combining the specialty activities of the Talanx Group into HDI Global Specialty SE, is an excellent platform for putting together cross-business segment expertise and network reach writing agency and specialty insurance business in lines including such as errors & omissions liability insurance, directors' and officers' liability insurance (D&O), legal expenses insurance, sports and entertainment, aviation, offshore energy and animal insurance.


Specialist local teams are highly qualified to give quick responses and informed support to the client's local operations, specifically their special, unusual or difficult insurance needs.


For additional information please go to:
www.hdi-specialty.com


About HDI Global SE

As an industrial lines insurer, HDI Global SE (HDI) meets the needs of SMEs, industrial companies and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company also has operations in more than 150 countries through foreign branch offices, subsidiary and peer companies, and network partners. The company is thus able to offer its customers local policies for their global operations, which ensure that the established service and insurance protection is extended for all covered risks worldwide.


HDI Global SE is a company in the Talanx Group and manages the Industrial Lines Division within the Group. More than three thousand employees in this division generated gross written premiums of approx. EUR 4.5 billion in the year 2017. The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of A+/stable (strong). Talanx AG is listed on the Frankfurt Stock Exchange in the SDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).


You can find additional information by going to:
www.hdi.global


For media enquiries please contact

Martin Schrader 
Tel.: +49 511-3747-2749
Email: martin.schrader@hdi.global

 

Alex Wise
Full Circle Corporate Communications
Tel: +44 20 7265 7887
Email:  awise@fullcirclecomms.co.uk  


Disclaimer

This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and/or HDI Global Specialty SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's and/or HDI Global Specialty SE's control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG and/or HDI Global Specialty SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global Specialty SE do not guarantee that the assumptions under-lying such forward-looking statements are free from errors nor do Talanx AG and/or HDI Global Specialty SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global Specialty SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.