Hannover Re Announces New Specialty Reinsurance Business Unit for Cyber and Digital

Hannover Re has revealed the creation of a specialty reinsurance business unit focusing on cyber and digital underwriting expertise. The amalgamation of global cyber and digital segments aims to accelerate the development and scaling of profitable business avenues. Announced to commence operations on April 1, 2024, this strategic move is designed to enhance Hannover Re's proposition as a dependable partner in treaty and facultative reinsurance for insurtechs and clients pursuing cyber risk coverage.

The establishment of this dedicated business unit is expected to increase Hannover Re's capacity to manage portfolio diversification, accumulation, and cycle management for cyber business unifiedly. Additionally, it will expand the company's capabilities in data and analytics, along with scaling cyber retrocession capacities. The move aligns with Hannover Re’s commitment to long-term partnership and profitability in underwriting, promising balanced and profitable growth in cyber and digital areas.

Stefan Sperlich, an experienced figure with a mathematical background and various roles at Hannover Re since 2009, has been appointed as Managing Director of the new business unit. The unit, based in Hannover, will integrate seasoned underwriters and digital risk experts, working in tandem with Hannover Re's global and local units to drive business and client management.