Hannover, Germany, Sept. 08, 2003 (PRIMEZONE) -- Hannover Re has been named "Reinsurance Company of the Year 2003" by the highly respected UK trade journal "Reactions." Wilhelm Zeller, Chairman of the Executive Board, accepted the award yesterday at the annual Rendezvous de Septembre in Monte Carlo. The award is made on the basis of votes cast by the readers of "Reactions." They include not only insurers and reinsurers worldwide but also financial analysts, insurance and reinsurance brokers and rating agencies. The entire insurance and reinsurance sector as well as industry observers thus participated in the selection of our company. Accepting the award, Mr. Zeller commented: "We are proud of this distinction and we shall continue in future to do everything in our power to live up to this expression of confidence." Hannover Re was also named "Reinsurance Company of the Year" by the UK magazine "The Review" in the years 2001 and 1998.
Hannover Re, with gross premiums of EUR 12.5 billion, is one of the five largest reinsurers in the world. It transacts all lines of property/casualty, life/health and financial/finite-risk reinsurance as well as program business. It maintains business relations with more than 2,000 insurance companies in over 100 countries. Its worldwide network consists of more than 100 subsidiaries, branch and representative offices in 19 countries. The rating agencies most relevant to the insurance industry have each awarded Hannover Re a rating in their second-highest category (Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior").