Hannover Life Re – the "Five Pillar" business model
Hannover Life Re's tried and trusted business model is based on a range of five structurally distinct product and service offerings that are known as the "five pillars". Unique expertise is the feature of each pillar, and this enables us to provide our cedants with solutions tailored to their specific needs.
To a growing extent, it is the case that multiple business centers of Hannover Life Re participate in the implementation of reinsurance solutions for our key account relationships. In this way we are able to optimise our risk and financial resources in the best interest of the customer and efficiently bundle the worldwide capacities of Hannover Life Re. In this context, our two subsidiaries Hannover Life Re Ireland and Hannover Life Re Bermuda play a particularly pivotal strategic role.
Relationship Marketing (as an overarching conceptual business approach) and Customer Relationship Management (as a package of actions to be implemented) continue to play an essential role in our global acquisition and underwriting policy.
As an inherent feature of this approach, priority is accorded to existing, value-creating customer relationships, while the acquisition of new clients is a secondary concern. Surveys of primary insurers again confirmed the success of this orientation in the year under review: the vast majority of our existing loyal customers in Europe and Asia attribute to Hannover Life Re the role of best or secondbest life reinsurer.
The leading international rating agencies are also displaying growing interest in Hannover Life Re's unique risk and business model. In this connection Standard & Poor's recognised most foreign life subsidiaries of Hannover Life Re as core companies of the Hannover Re Group in the fourth quarter of 2008.
Breakdown of gross written premium according to the “five pillar model” (in %)
