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Hannover Re executive says third-party capital is a partnership opportunity

Sven Althoff said third-party capital can help Hannover Re manage volatility via retrocession, and he referenced long-standing partnering with ILS capital.

Reported · Written up by our desk · Reinsurance

Hannover Re is positioning third-party capital as more than just added capacity, with Sven Althoff, its executive board member for Property and Casualty, saying it is part of a broader strategy that can create partnership opportunities. Althoff made the comments during a webinar briefing presented by Aon, which focused on capital and growth in reinsurance and the insurance-linked securities sector, according to Artemis.

Artemis reports that Althoff said third-party capital is a competitor in some respects, but Hannover Re views it primarily as a partner and a way to grow further. He also pointed to retrocession as an important tool for the company to steer volatility.

Artemis adds that Althoff described Hannover Re’s experience partnering with ILS capital for an extended period, saying the collaboration has covered almost all property.

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