Hannover Re strengthens its presence in Bahrain

Thursday, 05. July 2007 11:00



Hannover Re strengthens its presence in Bahrain

Hannover, 5 July 2007: Following the successful establishment of its
subsidiary Hannover ReTakaful B.S.C. (c) last year, Hannover Re is
now opening a branch office in the Kingdom of Bahrain: Hannover
Rückversicherung AG, Bahrain Branch, is expected to commence business
operations at the start of the coming year and will concentrate
exclusively on traditional reinsurance in the region. The Central
Bank of Bahrain (CBB) awarded the company the required licence at the
end of June.

"This concentration of our activities in the Arab world will enable
our clients to profit from even greater market intimacy and access
our full range of services from a single location", Wilhelm Zeller,
Chief Executive Officer of Hannover Re, emphasised. "At the same
time, the stronger presence in Bahrain will also reduce our
operational risk since the two offices optimally complement and
dovetail with one another."

While Hannover ReTakaful writes reinsurance worldwide in accordance
with Islamic law (known as Retakaful business), traditional business
serving Arab markets has hitherto been transacted mostly from the
company's Hannover Home Office. In addition to the enormous growth
market for Islamic insurance products, demand for conventional covers
nevertheless remains undiminished in the region. By establishing this
new branch office Hannover Re will now be able to offer its clients
both Sharia-compliant and conventional solutions on a concentrated
basis from just one location.


For further information please contact:

Press and Public Relations / Investor Relations:
Stefan Schulz (tel. +49 / 511 / 56 04-15 00,
e-mail: stefan.schulz@hannover-re.com)

Press and Public Relations:
Gabriele Handrick (tel. +49 / 511 / 56 04-15 02,
e-mail: gabriele.handrick@hannover-re.com)

Investor Relations:
Gabriele Bödeker (tel. +49 / 511 / 56 04-17 36,
e-mail: gabriele.boedeker@hannover-re.com)


Hannover Re, with a gross premium of around 9 billion euro, is one of
the leading reinsurance groups in the world. It transacts all lines
of non-life and life and health reinsurance. It maintains business
relations with more than 5,000 insurance companies in about 150
countries. Its worldwide network consists of more than 100
subsidiaries, branch and representative offices in around 20
countries with a total staff of roughly 2,000. The rating agencies
most relevant to the insurance industry have awarded Hannover Re very
strong insurer financial strength ratings (Standard & Poor's AA-
"Very Strong" and A.M. Best A "Excellent").


Disclaimer:
Some of the statements in this press release may be forward-looking
statements or statements of future expectations based on currently
available information. Such statements are naturally subject to risks
and uncertainties. Factors such as the development of general
economic conditions, future market conditions, unusual catastrophic
loss events, changes in the capital markets and other circumstances
may cause the actual events or results to be materially different
from those anticipated by such statements. Hannover Re does not make
any representation or warranty, express or implied, as to the
accuracy, completeness or updated status of such statements.
Therefore, in no case whatsoever will Hannover Re and its affiliate
companies be liable to anyone for any decision made or action taken
in conjunction with the information and/or statements in this press
release or for any related damages.



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Hannover Rück
Karl-Wiechert-Allee 50 Hannover Germany

WKN: 840221;
ISIN: DE0008402215; Index: CDAX, CLASSIC All Share, HDAX, MDAX,
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Markt in Niedersächsische Börse zu Hannover,
Freiverkehr in Börse Berlin Bremen, Freiverkehr in Börse Düsseldorf,
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in Bayerische Börse München,
Freiverkehr in Börse Stuttgart, Amtlicher Markt in Frankfurter
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Related Links: Hannover Rück SE
Author:
Hugin
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