Winner: Hannover Re
Highly commended: Zurich
Highly commended: Travelers
Hannover Re has a swift, flexible and undogmatic business approach, it says. It charts its own course through its performance capability, its problem-solving know-how and its power of innovation. It does not seek to imitate its competitors, but instead aspires to be the best option for its clients. Its economic success depends on its ability to enhance its clients’ commercial success through its risk solutions and the services it provides.
Zurich Reinsurance is a standalone legal entity that has both a reinsurance and a direct non-life insurance licence issued by FINMA. The company belongs to the Zurich Insurance Group and focuses on providing reinsurance solutions to affiliated companies of the group, primarily to branches of Zurich Insurance. Its direct book is in run-off.
Travelers Boiler Re offers more than 100 years of experience in the highly specialised equipment breakdown (boiler and machinery) insurance business. It started in 1907 to protect America’s rapidly growing industrial complex, and has never stopped growing. It entered the assumed equipment breakdown marketplace to offer reinsurance to a wider segment of insurance clients such as regional and national carriers, municipal pools and managing general agents. Its goal, it says, was to leverage its vast equipment breakdown experience to these new groups of customers.