Hannover Re Subsidiary Opens Group Life, Special Risk Unit.
Reassurance Company of Hannover, Orlando, Fla., has added a specialized unit to underwrite and market group life and special risk reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. .
The reinsurer re·in·sure
tr.v. re·in·sured, re·in·sur·ing, re·in·sures
To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. now has seven marketing lines, including annuities, life, and accident and health.
The company said it opened the separate unit to broaden its customer base. It's also a part of the growth of the life and health business segment being emphasized by its parent company, Hannover Re Hannover Re (FWB: HNRGn), in German Hannover Rückversicherung AG, with gross premium of around €9 billion in 2006, is one of the five largest reinsurance groups in the world. Its headquarters are in Hanover, Germany. , said William Walker William Walker may refer to: