E+S Re

The Hannover Re Group has written its German business exclusively through its subsidiary E+S Rückversicherung (E+S Re) since 1997. This puts E+S Re in the unique position of a reinsurer whose operations are exclusively confined to one country. But although Hannover Re and its other subsidiaries focus on non-German risks, some of this business is retroceded to E+S Re and vice versa, thus bringing more of a geographic spread to the latter’s portfolio. German business generated €899mn or 71% of total premiums in 1999. The remaining €373mn of E+S Re’s gross premium income came from international business retroceded to it by Hannover Re group companies.